MU Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2025-11-27), MU reported revenue of $13.6B, gross profit of $7.6B (56.0% gross margin), operating income of $6.1B, and net income of $5.2B (38.4% net margin). The flow of revenue into costs and profit is visualized below.
What changed
MU was profitable; revenue grew 56.7% year over year.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +56.7% | +180.2% | +16.9 pp |
| Quarter over quarter | +20.6% | +63.7% | +10.1 pp |
Consensus estimate data is not available for this report.
MU Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $13.6B | 100% |
| Cost of Revenue | −$6.0B | 44.0% |
| Gross Profit | $7.6B | 56.0% |
| Research & Development | −$1.2B | 8.6% |
| Selling, General & Administrative | −$337M | 2.5% |
| Other Operating Expenses | −$2M | 0.0% |
| Operating Income | $6.1B | 45.0% |
| Interest Expense | −$74M | 0.5% |
| Other Income, net | $7M | 0.1% |
| Income Tax Expense | −$829M | 6.1% |
| Net Income | $5.2B | 38.4% |
Source: original SEC filing (filed 2025-12-17). Accession 0000723125-25-000044. Data normalized by EarningsFyi.