Memory and flash chip-maker Micron had a massive third quarter as demand growth-driven revenues led to price rise-driven profits.
Revenues for its third fiscal 2017 quarter were $5.6bn, 19.8 per cent higher than a quarter ago and a whopping 92 per cent higher than a year ago.
As you might imagine profits were boosted, rising to $1.65bn, 84.6 per cent higher quarter-on-quarter and comparing very nicely indeed with the year-ago loss of $215mn.
Incoming President and CEO Sanjay Mehrotra has inherited a business doing well.
He said: "Micron delivered strong operational performance in the third quarter with free cash flow nearly double last quarter, which enabled us to retire $1bn in debt.
Our results reflect solid execution of our cost reduction plans and ongoing favorable industry supply and demand dynamics"