Micron Beat Revenue and EPS by Over 6% and Guided Next Quarter Up Another 13% — the Stock Barely Moved
Micron's fiscal Q4 FY2026 results, reported Sept 30, 2026 in the company's own SEC 8-K filing, beat Wall Street on every line: $54.23 billion in revenue against roughly $51 billion in consensus estimates, non-GAAP EPS of $33.42 against roughly $31.35-31.82 expected, and non-GAAP gross margin of 87%, ahead of Micron's own 86% guide. The company also guided fiscal Q1 2027 revenue to $61.5 billion (plus or minus $1.5 billion) — about 13% above the quarter just reported — with EPS guided to $38.15. Despite the blowout beat-and-raise, MU's stock barely moved: up 1.05% in regular trading and just 0.57% after hours. This is Micron's eighth consecutive earnings beat, and coverage of the muted reaction noted the stock has a history of giving back post-earnings gains, including a roughly 41% drawdown in the five weeks after its June 2026 earnings surprise.
Receipts
- primaryhttps://www.sec.gov/Archives/edgar/data/0000723125/000072312526000018/a2026q4ex991-pressrelease.htm
- alsohttps://www.cnbc.com/2026/09/30/micron-mu-q4-earnings-report-2026.html
- alsohttps://www.fxstreet.com/news/micron-impresses-with-542-billion-in-q4-revenue-202609302015
- alsohttps://www.quiverquant.com/news/Micron+Posts+Record+%2454.23+Billion+Fiscal+Fourth-Quarter+Revenue
Flagged:Primary is Micron's own Exhibit 99.1 earnings press release, filed as an SEC 8-K same-day (Sept 30, 2026) — fetched and read directly to confirm the exact revenue ($54.23B), GAAP/non-GAAP EPS ($32.87/$33.42), gross margin (86.8%/87.0%), and Q1 FY27 guidance ($61.5B +/- $1.5B revenue, $38.15 +/- $1.00 non-GAAP EPS) figures used on the card, rather than relying on secondary aggregation. CNBC, FXStreet and QuiverQuant independently report the same $54.23B/$33.42 figures and the beat-vs-consensus framing; Investing.com (citing Reuters) and 24/7 Wall St corroborate the guidance beat and the muted stock reaction. The ~$51B/~$31.35-31.82 consensus estimates vary slightly by aggregator, which is normal for analyst-consensus figures (not the reported results themselves, which are consistent everywhere checked). The 'eighth straight beat' / historical post-earnings-drawdown context is drawn from search-engine synthesis of Benzinga and 24/7 Wall St coverage (both outlets' domains were blocked by this environment's egress proxy for direct verification) and is used only as supporting color in the captions, not as one of the card's three sourced stat figures, all three of which trace directly to the primary SEC filing or a same-day quote.