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BOISE — Micron Technology Inc.'s fiscal first-quarter earnings fell 24 percent, but the company remained profitable even as prices for its computer memory chips slipped.
The Boise, Idaho-based company said Wednesday it earned $155 million, or 15 cents per share, during the three months ending Dec. 2. It had posted net income of $204 million in the year-ago period
Analysts had projected earnings of 28 cents per share, according to Thomson Reuters.
Revenue totaled $2.25 billion, up 29 percent from $1.74 billion last year.
President Mark Durcan and Chief Executive Officer Steve Appleton have been working to broaden Micron's mix of products, to ease what have historically been stomach-turning swings from profit to loss when the volatile chip market dips.
Micron shares rose 10 cents, or 1.2 percent, to $8.38 in extended trading.
