Filing Flows › Micron Technology (MU) › Q3 FY26
Micron Technology (MU) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jun 25, 2026
Micron Technology (MU) reported revenue of $41.5B for the third quarter fiscal 2026 (Q3 FY26), +346% from a year earlier and +74% from the quarter before. Operating margin was 80.4%, net earnings $28.2B (68.1% of revenue).
Micron Technology, Q3 FY26: revenue $41.5B (+346% year over year), operating margin 80.4%, net earnings $28.2B, operating cash flow $25.4B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.5B | +74% | +346% |
| Gross profit | $35.1B | +97% | +899% |
| Operating profit | $33.3B | +106% | 15× |
| Net earnings | $28.2B | +105% | 15× |
| Operating cash flow | $25.4B | +113% | +451% |
| Free cash flow | $17.6B | +218% | +951% |
What changed
Revenue was $41.5B in Q3 FY26, up 346% year over year and up 74% from the previous quarter. DRAM was the largest line at 76% of revenue. DRAM added $24.3B year over year (up 343%), 75% of the total change.
Gross margin was 84.6%, up 46.8 points from Q3 FY25. Operating profit was $33.3B, a 80.4% margin (up 57.0 points year over year). Of the extra revenue versus Q3 FY25, 97% reached operating profit, above the 23% margin then. Operating expenses grew 30% against revenue growth of 346%. The fastest-growing cost line was Research & development (+36%). Net earnings were $28.2B, up 1398% year over year. The effective tax rate was 15.0%.
Operating cash flow was $25.4B (up 451% year over year), 90% of net earnings. Non-cash charges added back $2.4B of depreciation and amortization and $0.35B of share-based compensation. Working capital and other items used $5.6B. Capital expenditures of $7.8B left free cash flow of $17.6B.
Questions
What was Micron Technology's revenue in the third quarter fiscal 2026?
Micron Technology (MU) reported revenue of $41.5B for the third quarter fiscal 2026 (Q3 FY26), +346% from a year earlier and +74% from the quarter before.
Was Micron Technology profitable in the third quarter fiscal 2026?
Operating profit was $33.3B (80.4% of revenue) and net earnings $28.2B.
Source: Micron Technology 10-Q on SEC EDGAR.