March 23, 2017 / 8:14 PM / 8 months ago

Micron's quarterly revenue soars 58.4 percent

March 23 (Reuters) - Micron Technology Inc reported a 58.4 percent jump in quarterly revenue, boosted by higher demand for the company’s memory chips used in computing devices and storage devices found in smartphones amid tight supplies.

Net income attributable to Micron was $894 million, or 77 cents per share, in the second quarter ended March 2, compared with a net loss of $97 million, or 9 cents per share, a year earlier. (bit.ly/2nhTnff)

The company’s net sales rose to $4.65 billion from $2.93 billion, the second straight quarterly revenue rise after nearly two years of declines.

Reporting by Aishwarya Venugopal in Bengaluru

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