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CHANDLER, Ariz. (AP) — CHANDLER, Ariz. (AP) — Microchip Technology Inc. (MCHP) on Tuesday reported fiscal second-quarter profit of $78.4 million.
The Chandler, Arizona-based company said it had profit of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The chipmaker posted revenue of $1.16 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $1.15 billion.
For the current quarter ending in December, Microchip Tech expects its per-share earnings to range from 25 cents to 35 cents.
The company said it expects revenue in the range of $1.02 billion to $1.1 billion for the fiscal third quarter.
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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