January 7, 2014 / 9:20 PM / 4 years ago

Chipmaker Micron posts quarterly profit

Jan 7 (Reuters) - Memory chip maker Micron Technology Inc posted a first-quarter net profit, compared with a loss a year earlier, helped by a strong recovery in chip prices.

The company reported a net profit of $358 million, or 30 cents per share, in the quarter ended Nov. 28, compared with a loss of $275 million, or 27 cents, a year earlier.

Revenue rose 120 percent to $4.04 billion.

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