Investing.com - Microchip reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.37 on revenue of $1.96B. Analysts polled by Investing.com anticipated EPS of $1.33 on revenue of $1.95B.
Microchip shares are down 20% from the beginning of the year and are trading at $68.01 , down-from-52-week-high.They are outperforming the Nasdaq which is down 21.07% from the start of the year.
Microchip shares lost 1.82% in after-hours trade the report.
Microchip follows other major Information Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on Thursday, who reported EPS of $1.2 on revenue of $82.96B, compared to forecasts EPS of $1.16 on revenue of $82.79B.
Microsoft had missed expectations on Tuesday, July 26, 2022 with fourth quarter EPS of $2.23 on revenue of $51.87B, compared to forecast for EPS of $2.29 on revenue of $52.38B.
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