CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal second-quarter profit of $666.6 million.
On a per-share basis, the Chandler, Arizona-based company said it had profit of $1.21. Earnings, adjusted for amortization costs and stock option expense, were $1.62 per share.
The results met Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of $1.62 per share.
The chipmaker posted revenue of $2.25 billion in the period, which missed Street forecasts. Ten analysts surveyed by Zacks expected $2.26 billion.
For the current quarter ending in December, Microchip Tech expects its per-share earnings to range from $1.09 to $1.17. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.46.
The company said it expects revenue in the range of $1.8 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.08 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCHP at https://www.zacks.com/ap/MCHP
