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Cerebras Systems: Fiscal 1Q26 Financial Results

25 d ago

Micron Technology reported fiscal third-quarter 2026 financial results for the period ended May 28, 2026. Revenue reached $41.46 billion, up 74.3% sequentially from $23.86 billion and up 347.3% year-over-year from $9.30 billion. GAAP net income was $28.24 billion, or $24.67 per diluted share; non-GAAP net income was $28.86 billion, or $25.11 per diluted share. Operating cash flow totaled $25.39 billion, compared to $11.90 billion in the prior quarter and $4.61 billion a year ago. Chairman, President, and CEO Sanjay Mehrotra attributed the record results to the strategic value of memory in the AI era, noting record investment in technology, products, and supply to meet growing customer demand. He highlighted multi-year Strategic Customer Agreements that enhance financial durability and predictability. Capital expenditures, net, were $7.1 billion, and adjusted free cash flow was $18.3 billion. The company ended the quarter with $30.2 billion in cash, marketable investments, and restricted cash. On June 24, 2026, the Board declared a quarterly dividend of $0.15 per share, payable July 21, 2026. Key product highlights include: HBM4 (1-beta DRAM) in high-volume shipments for a lead customer; HBM4E (1-gamma DRAM) development underway with volume production expected in calendar 2027; qualification samples of 256GB DDR5 RDIMMs shipped; LP5X SOCAMM2 in high-volume production; G9-based PCIe Gen6 SSD in high-volume production; high-capacity 245TB QLC SSD shipments commenced; Gen5 QLC PC Client SSD with G9 NAND achieved customer qualification; 1-gamma 16Gb LPDDR5X ramping at a leading smartphone OEM; 1-gamma 24Gb LP5X sampling; automotive-ready 1-gamma LPDDR5 samples delivered; first 1-gamma DDR5 samples to a robotaxi customer; and G9-based UFS 4.1 automotive NAND in volume shipments.