Microchip Tech: Fiscal Q2 Earnings Snapshot

CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Thursday reported fiscal second-quarter earnings of $401.4 million.

On a per-share basis, the Chandler, Arizona-based company said it had net income of 68 cents. Earnings, adjusted for one-time gains and costs, came to 97 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The chipmaker posted revenue of $1.62 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.61 billion.

For the current quarter ending in December, Microchip Tech expects its per-share earnings to range from 87 cents to 95 cents.

The company said it expects revenue in the range of $1.57 billion to $1.64 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