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Micron posts second-quarter profit, shares rise

04
Apr
2014

By Noel Randewich SAN FRANCISCO (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 and sending its stock higher. The company on Thursday reported a net profit of $731 million, or 61 cents per share, in the quarter ended February27, 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. …

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