Micron quarterly revenue rises 16 percent

Memory chip parts of the U.S. memory chip maker MicronTechnology are shown at their fair stand at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach/File Photo

(Reuters) – Chipmaker Micron Technology, Inc. (MU.O) reported a 16% increase in first quarter revenue on Tuesday, helped by higher demand for memory chips in the data centre.

Net income attributable to the chipmaker rose to $3.29 billion, or $2.81 per share in the quarter that ended Nov. 29, of € 2.68 billion, or $2.19 per share, a year earlier.

Net sales increased to $7.91 billion from $6.80 billion.

Reporting by Sonam Rai in Bengaluru and Stephen Nellis in San Francisco; Editing by Arun Koyyur

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