Micron Technology (NASDAQ:MU) reported record-breaking financial results for its fiscal second quarter ended February 26, 2026, as the company continues to capitalize on the unprecedented demand for memory and storage solutions sparked by artificial intelligence.
The Boise-based semiconductor leader posted revenue of $23.86 billion, fueled by a sharp ramp-up in High-Bandwidth Memory (HBM) shipments and a recovery in traditional data center and mobile markets.
The company’s profitability reached new heights, with GAAP net income totaling $13.79 billion ($12.07 per share).
On a non-GAAP basis, net income was $14.02 billion, resulting in an EPS of $12.20.
This performance was underpinned by robust adjusted free cash flow of $6.9 billion, even as the company reinvested $5 billion in capital expenditures to expand its leading-edge manufacturing capacity.
Micron exits the quarter with a formidable liquidity position, reporting $16.7 billion in cash and investments.
Reflecting management's confidence in the long-term structural demand for AI-ready silicon, the board of directors approved a 30% increase in the quarterly dividend to $0.15 per share.
Looking ahead, Micron issued exceptionally strong guidance for the third fiscal quarter, projecting revenue of approximately $33.5 billion (± $750 million) and diluted EPS in the range of $18.90 to $19.15.