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Microchip Technology Inc. Q2 adjusted earnings Beat Estimates

Microchip Technology Inc. (MCHP) announced earnings for second quarter that declined from the same period last year.

The company's bottom line came in at $96.3 million, or $0.38 per share. This compares with $189.2 million, or $0.77 per share, in last year's second quarter.

Excluding items, Microchip Technology Inc. reported adjusted earnings of $454.6 million or $1.81 per share for the period.

Analysts had expected the company to earn $1.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 41.6% to $1.43 billion from $1.01 billion last year.

Microchip Technology Inc. earnings at a glance:

-Earnings (Q2): $454.6 Mln. vs. $344.1 Mln. last year.
-EPS (Q2): $1.81 vs. $1.41 last year.
-Analysts Estimate: $1.73
-Revenue (Q2): $1.43 Bln vs. $1.01 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.49 - $1.64
Next quarter revenue guidance: $1.362 - $1.438 Bln

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