Microchip Technology Inc. (NASDAQ:MCHP) reported better-than-expected fourth-quarter financial results and issued strong first-quarter guidance on Thursday.
Microchip Technology reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 51 cents per share. The company reported quarterly sales of $1.311 billion which beat the analyst consensus estimate of $1.263 billion.
Microchip Technology said it sees first-quarter adjusted EPS of 67 cents-71 cents, versus market estimates of 59 cents. The company sees sales of $1.442 billion-$1.469 billion, versus expectations of $1.344 billion.
“Our March quarter results significantly exceeded our expectations, with revenue of $1.311 billion coming in above the high end of our guidance and increasing 10.6% sequentially and 35.1% year over year, reflecting broad‑based improvement across …
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