Micron Technology Grows Faster than Peers with Good Global Demand

Global manufacturer Micron Technology, which primarily makes chips and flash memories, had a solid quarter as global demand continued to pick up. Profit came in at 82 cents a share, one cent better than estimates. Revenue grew to over $4 billion, also better than expectations. CEO Mark Durcan was happy with the results. He said, 'Continued favorable market conditions and steady execution led to increases in sales volumes and another quarter of strong [performance].' Micron's growth is faster than its industry's overall expansion pace, which is about 10% each year.