Microchip announced earnings per share of $1.56 on revenue of $1.31B. Analysts polled by Investing.com anticipated EPS of $1.43 on revenue of $1.26B.
Microchip shares are up 13% from the beginning of the year, still down 0.21% from its 52 week high of $118.63 set on November 5. They are outperforming the S&P 500 which is up 8.66% from the start of the year.
Microchip shares lost 2.86% in after-hours trade following the report.
Microchip follows other major Technology sector earnings this month
Microchip’s report follows an earnings beat by Apple on October 29, who reported EPS of $0.73 on revenue of $64.7B, compared to forecasts EPS of $0.71 on revenue of $63.8B.
Microsoft had beat expectations on October 27 with first quarter EPS of $1.82 on revenue of $37.15B, compared to forecast for EPS of $1.54 on revenue of $35.76B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar