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 outperforming the S&P 500 which is up 8.66% from the start of the year.
Microchip shares lost 2.86% 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, 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.
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