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Microchip Technology: Q3 Earnings Insights

Microchip Technology (NASDAQ: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:

 

Quarter Q2 2022 Q1 2022 Q4 2021 Q3 2021
EPS Estimate 1.06 0.96 0.87 0.79
EPS Actual 1.07 0.99 0.93 0.81
Revenue Estimate 1.65B 1.55B 1.46B 1.36B
Revenue Actual 1.65B 1.57B 1.47B 1.35B

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.

To track all upcoming earnings announcements, click to use Benzinga Earnings Calendar.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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