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Microchip Earnings, Revenue Beat in Q1

Stock Markets Aug 02, 2022 04:42PM ET

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Investing.com - Microchip (NASDAQ:MCHP) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.

Microchip announced earnings per share of $1.37 on revenue of $1.96B. Analysts polled by Investing.com anticipated EPS of $1.33 on revenue of $1.95B.

Microchip shares are down 20% from the beginning of the year, still down 23.03% from its 52 week high of $90.00 set on December 28, 2021. They are outperforming the Nasdaq which is down 21.07% from the start of the year.

Microchip shares lost 1.82% in after-hours trade following the report.

Microchip follows other major Information Technology sector earnings this month

Microchip's report follows an earnings beat by Apple on Thursday, who reported EPS of $1.2 on revenue of $82.96B, compared to forecasts EPS of $1.16 on revenue of $82.79B.

Microsoft had missed expectations on July 26 with fourth quarter EPS of $2.23 on revenue of $51.87B, compared to forecast for EPS of $2.29 on revenue of $52.38B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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