Microchip reported second quarter earnings that missed analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.43 on revenue of $1.34B. Analysts polled by forecast EPS of $1.44 on revenue of $1.35B. That compared to EPS of $1.81 on revenue of $1.51B in the same period a year earlier. The company had reported EPS of $1.41 on revenue of $1.32B in the previous quarter.
Microchip shares lost 4.28% to trade at $95.71 in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
On October 30, Apple reported fourth quarter EPS of $3.03 on revenue of $64.04B, compared to forecasts of EPS of $2.83 on revenue of $63.01B.
Microsoft earnings beat analysts' expectations on October 23, with first quarter EPS of $1.38 on revenue of $33.06B. analysts expected EPS of $1.25 on revenue of $32.15B
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