Micron Technology, Inc. (MU) Announced Q3 2026 Earnings on June 24, 2026, Reporting Total fiscal Q3 revenue was $41.5 billion.

In fiscal Q3 2026, CFO Mark Murphy reported that Total fiscal Q3 revenue was $41.5 billion, up 74% sequentially and up 346% year-over-year.

Fiscal Q3 DRAM revenue was a record $31.3 billion, and fiscal Q3 NAND revenue was a record $9.9 billion.

The company generated an operating income of $33.7 billion in fiscal Q3, with a consolidated gross margin for fiscal Q3 of 84.9%.

Non-GAAP diluted earnings per share in fiscal Q3 was $25.11.

Fiscal Q3 free cash flow was $18.3 billion, which was noted as a quarterly record for the company.CEO Sanjay Mehrotra stated that data center revenue exceeded $25 billion in fiscal Q3. A major business update was the signing of 16 strategic customer agreements, which the company expects will fundamentally transform their business model.

These agreements are structured as take-or-pay agreements with binding commitments to purchase specific volumes over a multiyear term. On the product side, Micron has already shipped over $1 billion in HBM 4 revenue, and the HBM4 12-high volume ramp is tracking twice as fast as HBM3E 12-high.

Management expects tight supply conditions to persist beyond calendar 2027 due to AI-driven demand and structural supply constraints.

For forward guidance, the company expects fiscal Q4 revenue to be a record $50 billion, plus or minus $1 billion, and gross margin to be approximately 86%.

Fiscal Q4 EPS is expected to be a record $31 per share, plus or minus $1. Capital expenditures for fiscal Q4 are projected at around $10 billion, bringing full year fiscal 2026 capital spending to approximately $27 billion.