Micron quarterly revenue up 58 percent YoY
The American manufacturer of DRAM and flash memory for all kinds of NAND-based devices has made its latest financial results public with astounding figures. As of its second quarter of of the 2017 fiscal year, Micron has generated a revenue of 4.6 billion USD compared to 2.9 billion USD in the same quarter last year or 4.0 billion USD in the previous quarter.
Profits have especially improved from a loss of 97 million USD last year to a surplus of 894 million USD. The exponential turnaround can be attributed to the ever-growing DRAM market that has allowed Micron to raise its average prices by 21 percent. This is in combination with efforts to decrease manufacturing costs to further increase profit margins.
NAND flash is the second largest market for Micron as its sales make up 30 percent of the company's revenue stream. Micron has managed to increase its profit margins in this sector as well due to the growing demand for denser 3D NAND storage solutions.
The positive bottom line has already resulted in a 10 percent rise in shares of Micron. The company is predicting even higher revenue numbers for this upcoming third quarter in the 5.2 to 5.6 billion USD range.