Microchip Tech forecasts upbeat quarterly revenue on strong demand
MCHP•Quarterly outlook and first-quarter results
Here are some details:
- For the second quarter, Microchip forecast revenue of $1.59 billion to $1.62 billion, above analysts' average estimate of $1.55 billion, according to data compiled by LSEG.
- Its adjusted earnings per share forecast of $0.91 to $0.95 was also above analysts' average estimate of $0.79.
- The company reported first-quarter revenue of $1.49 billion, topping analysts' estimate of $1.46 billion, while its adjusted profit of $0.76 per share also beat estimates of $0.69.
- The Chandler, Arizona-based company's shares were up 7% after the bell.
- Peer Onsemi ON.O on Monday forecast third-quarter revenue above Wall Street expectations, betting on surging demand for power management chips used in AI data centers.
Microchip forecasts second-quarter revenue and profit above estimates
Microchip Technology MCHP.O forecast second-quarter revenue and profit above Wall Street estimates on Thursday, on strengthening demand for its chips used in AI data centers as well as the industrial, automotive and aerospace sectors.
