Investing.com - Microchip (NASDAQ:MCHP) reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.07 on revenue of $1.65B. Analysts polled by Investing.com anticipated EPS of $1.05 on revenue of $1.64B.
Microchip shares are up 48% from the beginning of the year, still down 0.43% from its 52 week high of $83.33 set on February 17. They are outperforming the S&P 500 which is up 24.62% from the start of the year.
Microchip shares gained 3.64% in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
Microchip's report follows an earnings beat by Alphabet C on October 26, who reported EPS of $27.99 on revenue of $65.12B, compared to forecasts EPS of $23.83 on revenue of $63.53B.
Taiwan Semiconductor had beat expectations on October 14 with third quarter EPS of $1.07 on revenue of $14.75B, compared to forecast for EPS of $1.04 on revenue of $14.81B.
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