Microchip Technology: Q3 Earnings Insights

Microchip Technology MCHP reported its Q3 earnings results on Thursday, February 3, 2022 at 04:15 PM.

Here's what investors need to know about the announcement.

Microchip Technology beat estimated earnings by 2.56%, reporting an EPS of $1.2 versus an estimate of $1.17, which did not surprise analysts.

Revenue was up $406.00 million from the same period last year.

Last quarter the company beat on EPS by $0.01, which was followed by a 3.42% increase in the share price the next day.

Here's a look at Microchip Technology's past performance:

Quarter	Q2 2022	Q1 2022	Q4 2021	Q3 2021
EPS Estimate	1.06	0.96	0.87	0.79
EPS Actual	1.07	0.99	0.93	0.81
Revenue Estimate	1.65B	1.55B	1.46B	1.36B
Revenue Actual	1.65B	1.57B	1.47B	1.35B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Microchip Technology management provided guidance for their next quarter, expecting earnings between $1.22 and $1.28 per share for the next quarter.

This represents a 4.17% in quarter-over-quarter growth for Microchip Technology, a bullish signal to many investors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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