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Micron posts first revenue rise in seven quarters as pricing improves
December 21, 2016 / 9:10 PM / a year ago

Micron posts first revenue rise in seven quarters as pricing improves

Dec 21 (Reuters) - Memory-chip maker Micron Technology Inc reported its first rise in quarterly revenue in nearly two years, as a stabilizing PC market boosted chip demand and pricing.

The company's net income attributable to shareholders fell to $180 million, or 16 cents per share, in the first quarter ended Dec. 1, from $206 million, or 19 cents per share, a year earlier. (bit.ly/2hUuv98)

The company’s net sales rose 18.5 percent to $3.97 billion.

Prices of dynamic random access memory (DRAM) chips used in personal computers have been recovering as the PC market improves amid tighter supplies.

Micron, which gets about 60 percent of its revenue from DRAM chips, said last month it expected slowing industry supply growth for the next few quarters, while overall demand stayed healthy. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

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