CHANDLER, Ariz. (AP) _ Microchip Technology Inc. (MCHP) on Thursday reported fiscal second-quarter earnings of $546.2 million.
The Chandler, Arizona-based company said it had net income of 98 cents per share. Earnings, adjusted for amortization costs and pretax expenses, were $1.46 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.
The chipmaker posted revenue of $2.07 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $2.06 billion.
For the current quarter ending in December, Microchip Tech expects its per-share earnings to range from $1.54 to $1.56. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.46.
The company said it expects revenue in the range of $2.13 billion to $2.18 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.08 billion.
_____
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