Microchip Technology

$MCHP · NASDAQ · TECHNOLOGY · 1 stories in 30 days

The wire on $MCHP

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Earningsdeveloping · 2 wires10:30 PM

Microchip Technology beats Q1 estimates, guides Q2 above consensus

Microchip Technology reported Q1 revenue of $1.5B, above the $1.46B estimate, and adjusted EPS of $0.76, beating the $0.69 consensus. Q2 revenue guidance of $1.59B-$1.62B and EPS guidance of $0.91-$0.95 both exceed Street expectations. Free cash flow of $497.6M also topped estimates. The company reduced net debt by $170M and maintained its quarterly dividend.

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