Microchip Technology Inc. Earnings Rise 54% In Q2

(RTTNews) - Microchip Technology Inc. (MCHP) announced a profit for its second quarter that rose from last year.

The company said its bottom line came in at $219.61 million, or $0.94 per share. This was up from $142.91 million, or $0.66 per share, in last year's second quarter.

Analysts had expected the company to earn $0.87 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 56.2% to $873.8 million. This was up from $559.4 million last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $219.61 Mln. vs. $142.91 Mln. last year. -Earnings Growth (Y-o-Y): 53.7% -EPS (Q2): $0.94 vs. $0.66 last year. -EPS Growth (Y-o-Y): 42.4% -Analysts Estimate: $0.87 -Revenue (Q2): $873.8 Mln vs. $559.4 Mln last year. -Revenue Change (Y-o-Y): 56.2%

-Guidance: Next quarter EPS guidance: $0.85 - $0.95 Next quarter revenue guidance: $821.4 - $873.8 Mln