Microchip Technology Q3 2024 Adj EPS $1.08 Beats $1.04 Estimate, Sales $1.77B Inline
Portfolio Pulse from Benzinga Newsdesk
Microchip Technology (MCHP) reported Q3 2024 adjusted EPS of $1.08, surpassing the $1.04 estimate, with sales of $1.77B meeting expectations but marking an 18.59% decrease from the previous year.
February 01, 2024 | 9:11 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Microchip Technology reported a higher-than-expected Q3 2024 EPS of $1.08, with sales of $1.77B meeting analyst estimates but showing a significant year-over-year decline.
The positive earnings surprise, with EPS exceeding estimates, is likely to be viewed favorably by investors, potentially leading to a short-term uptick in MCHP's stock price. However, the significant year-over-year sales decline may temper optimism, suggesting a cautious outlook on the stock's performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100