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Microchip Tech (MCHP) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended September 2023, Microchip Technology (MCHP) reported revenue of $2.25 billion, up 8.7% over the same period last year. EPS came in at $1.62, compared to $1.46 in the year-ago quarter.

The reported revenue represents a surprise of -0.20% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $1.62, the company has not delivered EPS surprise.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Microchip Tech performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Mixed-signal Microcontrollers: $1.28 billion versus $1.29 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +8.5% change.

  • Net Sales- Other: $351.20 million compared to the $342.44 million average estimate based on five analysts.

  • Net Sales- Analog: $623 million compared to the $631.05 million average estimate based on five analysts. The reported number represents a change of +8.8% year over year.

View all Key Company Metrics for Microchip Tech here>>>

Shares of Microchip Tech have returned -8.7% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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