Micron ramps sales, profits on memory prices
Revenues for the 2QF17 were $4.65 billion, 17 percent higher compared to 1QF17 and 58 percent higher compared to the 2QF16. The company made a net profit of $894 million in 2QF17, compared to an net profit of $180 million in 1QF17 and a net loss of $97 million on 2QF16.
The sequential increase in the company’s revenues was due primarily to a 21 percent increase in DRAM average selling prices and an 18 percent increase in trade NAND sales volumes, Micron said.
Investments in capital expenditures, net of amounts funded by partners, were $1.17 billion for the second quarter of fiscal 2017. The company ended the second quarter of fiscal 2017 with cash, marketable investments, and restricted cash of $4.58 billion.
“Strong demand and limited industry supply for NAND and DRAM solutions, combined with significant progress on our cost reduction plan, produced excellent results for our second quarter,” said Micron CEO Mark Durcan, in a statement.
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