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