Microchip Technology (MCHP) Reports Q3 Fiscal Earnings Exceeding Estimates

Microchip Technology Inc. (MCHP) reported fiscal third-quarter net income of $62.7 million, or 6 cents per share, with adjusted earnings of 44 cents per share, exceeding analyst expectations. Revenue reached $1.19 billion, in line with forecasts. For the current quarter ending March 31, the company expects revenue between $1.24 billion and $1.28 billion.