Micron Technology Inc. (NASDAQ: MU) posted its first profit in eight quarters due to higher prices for its memory chips used in personal computers, mobile handsets and tablet devices.
Net income was $43 million U.S., or four cents per share, in the third quarter, compared with a loss of $320 million U.S., or 32 cents per share, a year earlier.
Revenue rose 7% to $2.32 billion U.S.
Micron said average selling prices of its dynamic random access memory (DRAM) chips rose 16%.
Micron stock gained 22 cents a share, or 1.6%, to $13.97 U.S. at Wednesday's close, within a 52-week range of $5.16 to $14.11 U.S.
