Microchip Tech: Fiscal Q3 Earnings Snapshot
CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal third-quarter profit of $62.7 million.
The Chandler, Arizona-based company said it had net income of 6 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 44 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The chipmaker posted revenue of $1.19 billion in the period, matching Street forecasts.
For the current quarter ending in March, Microchip Tech said it expects revenue in the range of $1.24 billion to $1.28 billion.
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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