Investing.com - Microchip reported on Monday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.35 on revenue of $1.84B. Analysts polled by Investing.com anticipated EPS of $1.25 on revenue of $1.82B.
Microchip shares are down 26% from the beginning of the year and are trading at $64.31 , down-from-52-week-high.They are under-performing the S&P 500 which is down 16.26% from the start of the year.
Microchip follows other major Information Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on Thursday, April 28, 2022, who reported EPS of $1.52 on revenue of $97.28B, compared to forecasts EPS of $1.42 on revenue of $94.03B.
Microsoft had beat expectations on Tuesday, April 26, 2022 with third quarter EPS of $2.22 on revenue of $49.36B, compared to forecast for EPS of $2.19 on revenue of $49.02B.
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