The Boise, Idaho-based semiconductor maker is among the
today with the fourth-highest volume after
Bank of America
In the quarter that ended Dec. 3, Micron reported profit of $204 million, or 23 cents per share, compared to a loss of $718 million, or 93 cents per share, a year earlier. Analysts polled by Thomson Reuters had expected profit of 7 cents per share in the most recent quarter.
Revenue rose 24% to $1.74 billion from $1.4 billion, compared to an analyst prediction of $1.6 billion. The company said its gross margin on sales of memory products improved to 27% from 12% in the prior quarter as it raised prices.
The Associated Press contributed to this report.
This article was written by a staff member of TheStreet.com.