Microchip Earnings, Revenue Beat in Q1
8/4/2021 11:03:42 AM
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 $1.98 on revenue of $1.57B. Analysts polled by Investing.com anticipated EPS of $1.91 on revenue of $1.55B.

Microchip shares are up 6% from the beginning of the year, still down 11.90% from its 52 week high of $166.67 set on February 17. They are under-performing the Nasdaq 100 which is up 16.86% from the start of the year.

Microchip follows other major Information Technology sector earnings this month
Microchip's report follows an earnings beat by Apple on July 27, who reported EPS of $1.3 on revenue of $81.43B, compared to forecasts EPS of $1.01 on revenue of $73.33B.

Microsoft had beat expectations on July 27 with fourth quarter EPS of $2.17 on revenue of $46.15B, compared to forecast for EPS of $1.92 on revenue of $44.22B.