Investing.com - Microchip reported on Tuesday first 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 $1.28B.
Microchip shares are up 2% from the beginning of the year and are trading at $100.00 , down-from-52-week-high.They are under-performing the Nasdaq which is up 21.94% from the start of the year.
Microchip shares lost 6.68% in after-hours trade the report.
Microchip follows other major Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on Thursday, who reported EPS of $2.58 on revenue of $59.69B, compared to forecasts EPS of $2.05 on revenue of $52.24B.
Microsoft had beat expectations on Wednesday, July 22, 2020 with fourth quarter EPS of $1.46 on revenue of $38.03B, compared to forecast for EPS of $1.34 on revenue of $36.54B.
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