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Nov 27, 2025
Micron Q1 2026 Earnings Report
Micron reported record results in Q1 2026, driven by AI demand and strong execution.
Key Takeaways
Micron Technology delivered record Q1 revenue and free cash flow, with all business units showing strong performance. AI-driven demand and operational excellence contributed to significant margin expansion and earnings growth.
Record quarterly revenue of $13.64 billion
GAAP Net Income reached $5.24 billion
Free cash flow hit an all-time high at $3.906 billion
Strong margin expansion across all business units
Revenue by Segment
Forward Guidance
Micron expects record Q2 performance across revenue, margins, EPS, and free cash flow, driven by sustained AI demand and strong operational momentum.
Positive Outlook
- Q2 revenue guidance of $18.7 billion ± $400 million
- Non-GAAP gross margin projected at 68.0% ± 1.0%
- Non-GAAP EPS guidance of $8.42 ± $0.20
- Continued AI-driven demand across all units
- Strong execution supporting margin expansion
Challenges Ahead
- High CapEx investment levels continue
- Slight increase in operating expenses forecasted
- Macroeconomic uncertainties may impact demand
- Foreign exchange rates could affect results
- Tight labor markets could influence cost structure
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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