NEW YORK: Micron Technology Inc’s quarterly revenue and profit beat analysts’ estimates, breaking a recent run of bad news on chipmakers and sending the company’s shares up 5 percent in after-market trading.

The company, which makes dynamic random access memory (DRAM)and NAND flash memory chips, said revenue rose 1.4 percent to $4.17 billion.

Analysts on average had expected revenue of $4.15 billion, according to Thomson Reuters I/B/E/S.

Micron warned in January that it expected a drop in output in the second quarter, a seasonally slower period, as the company upgraded its production lines with improved technology.

Chipmakers’ shares have been weighed down by concerns over declining PC shipments, sluggish forecasts and broker downgrades.

NAND flash memory chips are widely used in smartphones, cameras and other mobile devices to store music, pictures and other data. DRAM chips are mostly used in personal computers. Net income attributable to Micron rose to $934 million, or 78 cents per share, for the second quarter ended March 5, from $731 million, or 61 cents per share, a year earlier.

Excluding items, Micron earned 81 cents per share in the quarter. Analysts on average had expected 73 cents per share.—Reuters