Investing.com - Microchip (NASDAQ:MCHP) reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Microchip announced earnings per share of $1.46 on revenue of $1.33B. Analysts polled by Investing.com anticipated EPS of $1.35 on revenue of $1.32B. That with comparison to EPS of $1.48 on revenue of $1.33B in the same period a year before. Microchip had reported EPS of $1.32 on revenue of $1.29B in the previous quarter. Analysts are expecting EPS of $1.3 and revenue of $1.27B in the upcoming quarter.
Microchip shares are down 18% from the beginning of the year , still down 24.11% from its 52 week high of $112.47 set on January 14. They are under-performing the Nasdaq which is down 0.66% year to date.
Microchip shares gained 1.23% in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
Microchip's report follows an earnings beat by Microsoft on April 29, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.76B.
Apple had beat expectations on April 30 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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