CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal second-quarter earnings of $41.7 million.
On a per-share basis, the Chandler, Arizona-based company said it had net income of 3 cents. Earnings, adjusted for amortization costs and stock option expense, were 35 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The chipmaker posted revenue of $1.14 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.13 billion.
For the current quarter ending in December, Microchip Tech expects its per-share earnings to range from 34 cents to 40 cents.
The company said it expects revenue in the range of $1.11 billion to $1.15 billion for the fiscal third quarter.
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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
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