Microchip Technology (NASDAQ:MCHP) reported better-than-expected earnings for the first quarter on Thursday.
The company posted quarterly earnings of 27 cents per share which beat the analyst consensus estimate of 23 cents per share. The company reported quarterly sales of $1.075 billion which beat the analyst consensus estimate of $1.054 billion.
Microchip Technology said it sees second-quarter adjusted EPS of 34 cents to 37 cents per share, versus market estimates of 30 cents per share. The company projects sales of $1.110 billion to $1.150 billion versus expectations of $1.115 billion.
Steve Sanghi, Microchip’s CEO and President said, “Fiscal 2026 is off to a strong start as revenue grew …