Highlights

  • Micron reports Q1 2026 revenue of USD 13.64B, surpassing analyst estimate of USD 12.88B.
  • Adjusted EPS reaches USD 4.78, exceeding expectations of USD 3.94.
  • Free cash flow sets quarterly record at USD 3.9B, up over 20% from previous peak.

Micron Technology (NASDAQ:MU) saw shares climb 8.1% in after-hours trading following the release of its first-quarter fiscal 2026 financial results. This comes after a 3% decline during the regular trading session, with investors reacting to revenue and earnings figures that exceeded analysts’ estimates.

Revenue Growth Across Units
The company reported Q1 2026 revenue of USD 13.64B, marking a 56.7% year-over-year increase. Analysts had expected USD 12.88B. All four business units contributed to the growth, with the cloud memory segment recording the largest increase. Sales from cloud memory reached USD 5.28B, a 99.5% rise compared to Q1 2025.

Earnings Performance
Micron posted adjusted diluted earnings per share (EPS) of USD 4.78, above the anticipated USD 3.94. The growth in earnings reflects higher revenue across all business segments.

Record Free Cash Flow
Free cash flow reached USD 3.9B, exceeding the company’s previous quarterly record set in Q4 2018 by more than 20%. This represents the highest quarterly cash flow in Micron’s history.

Outlook for Q2 2026
Management provided guidance for the second quarter of fiscal 2026, projecting revenue between USD 18.3B and USD 19.1B and adjusted diluted EPS of USD 8.22 to USD 8.62. For comparison, in Q2 2025, Micron reported revenue of USD 8.1B and adjusted EPS of USD 1.56.