The Boise, Idaho-based semiconductor company reported a fiscal second-quarter profit of $365 million, or 39 cents a share, compared with a loss of $763 million, or 99 cents a share, for the year-earlier period. Revenue was $1.96 billion, up from $993 million for the same period the previous year.
Analysts had expected Micron to report earnings of 24 cents a share, on revenue of $1.82 billion, according to a consensus survey by Thomson Reuters.
The company said sales of its DRAM products rose 24% sequentially, boosted by a rise in unit sales and in average selling prices. However, revenue from NAND Flash products were down slightly sequentially due to "a slight decrease in average selling prices," the company said.
In a prepared statement, Micron Chief Executive Steve Appleton said the company's performance got a boost from "an improving market, strong operational performance, advanced technology and a broad product portfolio."