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Submitted URL: https://t.ly/XyNaR
Effective URL: https://www.nasdaq.com/articles/microchip-technology-inc.-q2-profit-increases-beats-estimates-0
Submission: On November 03 via manual from SG — Scanned from SG
Effective URL: https://www.nasdaq.com/articles/microchip-technology-inc.-q2-profit-increases-beats-estimates-0
Submission: On November 03 via manual from SG — Scanned from SG
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MCHP +3.6%
MICROCHIP TECHNOLOGY INC. Q2 PROFIT INCREASES, BEATS ESTIMATES
November 02, 2023 — 04:31 pm EDT
Written by RTTNews.com for RTTNews ->
*
*
*
*
*
(RTTNews) - Microchip Technology Inc. (MCHP) reported earnings for its second
quarter that increased from the same period last year and beat the Street
estimates.
The company's bottom line totaled $666.6 million, or $1.21 per share. This
compares with $546.2 million, or $0.98 per share, in last year's second quarter.
Excluding items, Microchip Technology Inc. reported adjusted earnings of $889.3
million or $1.62 per share for the period.
Analysts on average had expected the company to earn $1.61 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.
The company's revenue for the quarter rose 8.7% to $2.25 billion from $2.07
billion last year.
Microchip Technology Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $666.6 Mln. vs. $546.2 Mln. last year. -EPS (Q2): $1.21 vs.
$0.98 last year. -Analyst Estimate: $1.61 -Revenue (Q2): $2.25 Bln vs. $2.07 Bln
last year.
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Undo
-Guidance: Next quarter EPS guidance: $1.09 to $1.17 Next quarter revenue
guidance: $1.803 - 1.916 Bln
The views and opinions expressed herein are the views and opinions of the author
and do not necessarily reflect those of Nasdaq, Inc.
TAGS
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RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of
covering Wall Street for a new generation of investors, RTTNews has expanded
steadily over the years to become a trusted provider of content for a wide array
of subjects across several platforms. RTT's Financial Newswire is relied upon by
some of the world's largest financial institutions, including banks, brokerages,
trading platforms and financial exchanges.
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