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Dow Jones
By Maria Armental
Micron Technology Inc., one of the world's largest memory-chip makers, reported better-than-expected first-quarter financial results and projected second-quarter results ahead of Wall Street expectations pointing to strong broad-based demand. Here's what you need to know.
PROFIT: Net income for the quarter surged to $803 million, or 71 cents a share, from $491 million, or 43 cents a share, a year earlier. On an adjusted basis, profit rose to 78 cents a share from 48 cents a share a year earlier. The company had projected 61 cents to 65 cents a share, or 69 cents to 73 cents a share on an adjusted basis, while analysts surveyed by FactSet expected 56 cents a share, or 68 cents a share on an adjusted basis.