Micron Earnings Up, Chips Rebound

Micron Technology’s earnings jumped 66 percent in its fiscal third quarter, soundly beating Wall Street estimates on revived sales of computer memory chips.

Micron said Monday it earned $96.8 million, or 45 cents a share, in the quarter ended May 29, up from $58.2 million, or 27 cents a share, in the same period last year. Sales rose 25 percent to $965 million from $771 million. Sales of memory chips, which account for more than half of overall sales, climbed 23 percent.