Microchip's Q3 Forecast: Record Sales & Earnings

Microchip Technology, a leading chipmaker, has revised its financial outlook for the third quarter, anticipating higher net sales and earnings per share due to a surge in new orders. The company now expects adjusted earnings per share to reach forty cents, the highest end of their previous range, and net sales to hit the high end of their prior forecast. This positive news sent their stock price up by 2.3% in after-hours trading. CEO Steve Sanghi attributed this to stronger-than-expected performance and consistently strong booking activity throughout November.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.