Microchip reported first quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.41 on revenue of $1.32B. Analysts polled by forecast EPS of $1.38 on revenue of $1.33B. That compared to EPS of $1.61 on revenue of $1.21B in the same period a year earlier. The company had reported EPS of $1.48 on revenue of $1.33B in the previous quarter.
Microchip shares gained 2.28% to trade at $87.00 in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
On July 18, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Apple earnings beat analysts' expectations on July 30, with third quarter EPS of $2.18 on revenue of $53.81B. analysts expected EPS of $2.09 on revenue of $53.32B
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