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Micron posts second-quarter profit on higher memory chip prices
April 3, 2014 / 8:10 PM / 3 years ago

Micron posts second-quarter profit on higher memory chip prices

SAN FRANCISCO, April 3 (Reuters) - Memory chip maker Micron Technology Inc posted a fiscal second-quarter net profit, compared with a loss a year earlier, helped by a strong recovery in chip prices.

The company on Thursday reported a net profit of $731 million, or 61 cents per share, in the quarter ended Feb.27, compared with a loss of $286 million, or 28 cents, a year earlier. Excluding items, Micron earned 85 cents per share.

Revenue rose 98 percent to $4.11 billion. Analysts an average expected revenue of $3.985 billion, according to Thomson Reuters I/B/E/S. (Reporting by Noel Randewich; Editing by Bernard Orr)

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