Micron Technologies (MU) reported a beat on the top and bottom lines in the fiscal fourth quarter afterhours on Wednesday.
Micron earned $33.42 in adjusted EPS on $54.23 billion in revenue in Q4. Those figures easily surpassed Wall Street's consensus of $31.82 in adjusted EPS (+$1.60) and $51.5 billion in revenue (+$2.73 billion). That sales figure surged 379% YoY, even higher than the annual growth rate in the prior quarter.
Gross margin, possibly the most important figure in the release, arrived at 86.8%, above the company's 86.0% projection and the previous quarter's 84.6% figure. That led the operating margin to rise by three-tenths of a percent to 80.7%.
Micron earned $37.7 billion in the quarter, about 12 times the $3.2 billion earned in the same quarter a year ago. That figure was also about $9.5 billion higher than the third fiscal quarter that ended in August.
Micron by business segment
Micron's Core Data Center segment reported revenue of $18 billion, up from $11.5 billion in Q3 (up 36% QoQ). Gross margin also rose from 87% to 90% on a quarterly basis, but operating margin declined from 78% to 76% over that period.
The Cloud Memory unit saw revenue climb from $13.8 billion in Q3 to $16.3 billion in Q4, but gross margin remained flat at 83%.
The Mobile & Client unit reported revenue of $13.1 billion, up from $11.5 billion in Q3. Gross margin expanded from 87% to 90%, in line with the Data Center unit, and operating margin climbed two percentage points to 88%.
The Automotive & Embedded segment saw revenue surge 47% QoQ.
Micron outlook and stock chart
Micron's outlook for fiscal Q1 2027 also showed surprising upside. The company projects its revenue midpoint at $61.5 billion in Q1 and $37.84 in diluted earnings per share.
The market seems unsure how to trade the stock afterhours however. MU stock closed near $1,065 on Wednesday, shot down to $1,040 afterhours before reaching a range high at $1,078.
MU 5-minute stock chart / September 30, 2026
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