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 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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