© Reuters. Microchip revenue, first quarter sales hit
Investing.com – Microchip (NASDAQ 🙂 reported Tuesday that analysts' forecasts and sales exceeded expectations.
Microchip announced earnings per share of $ 1.56 on sales of $ 1.31 billion. Analysts surveyed by Investing.com expected earnings per share of $ 1.43 on sales of $ 1.28 billion.
Microchip stocks have risen 2% since the beginning of the year and are still down 5.40% from the 52-week high of $ 113.28 set on June 5. They underperform the Nasdaq, which has risen 21.94% since the beginning of the year.
Microchip stocks lost 6.68% in over-the-counter trading, the report said.
Microchip follows other earnings in the technology sector this month
Microchip's report follows Apple's earnings jump on Thursday, which reported earnings per share of $ 2.58 on sales of $ 59.69 billion, compared to earnings per share of $ 2.05 on sales of 52 $ 24 billion.
Microsoft had exceeded expectations on July 22, with earnings per share of $ 1.46 for fourth quarter sales of $ 38.03 billion, compared to a forecast for $ 1.34 earnings per share for sales of $ 36.54 billion.
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