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.

Earnings

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.

Past Earnings Performance

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:

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).

Guidance

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.