Investing.com - Microchip reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.56 on revenue of $1.31B. Analysts polled by Investing.com anticipated EPS of $1.43 on revenue of $1.26B.
Microchip shares are up 13% from the beginning of the year and are trading at $115.00 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is up 38.3% from the start of the year.
Microchip shares lost 2.86% in after-hours trade after the report.
Microchip follows other major Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on Thursday, October 29, 2020, who reported EPS of $0.73 on revenue of $64.7B, compared to forecasts EPS of $0.71 on revenue of $63.8B.
Microsoft had beat expectations on Tuesday, October 27, 2020 with first quarter EPS of $1.82 on revenue of $37.15B, compared to forecast for EPS of $1.54 on revenue of $35.76B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar