Investing.com - Microchip reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.32 on revenue of $1.29B. Analysts polled by Investing.com anticipated EPS of $1.26 on revenue of $1.28B. That with comparison to EPS of $1.66 on revenue of $1.42B in the same period a year before.Microchip had reported EPS of $1.43 on revenue of $1.34B in the previous quarter.Analysts are expecting EPS of $1.39 and revenue of $1.33B in the upcoming quarter.
Microchip shares are down 2% from the beginning of the year and are trading at $103.50 , down-from-52-week-high.They are under-performing the S&P 500 which is up 1.65% year to date.
Microchip shares gained 1.72% in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on Tuesday, January 28, 2020, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on Wednesday, January 29, 2020 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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