Dec 2 : Chipmaker Microchip Technology on Tuesday raised its expectations for third-quarter web gross sales and earnings per share, pushed by robust bookings, sending its shares up 2.3 per cent in prolonged buying and selling.
The firm now expects adjusted earnings per share of 40 cents, which is on the increased finish of its earlier projected vary of 34 to 40 cents per share.
“With two months of the quarter behind us, our business is performing better than we expected at the time of our November 6, 2025 earnings conference call,” CEO Steve Sanghi mentioned in a press release.
Microchip mentioned it now expects web gross sales to even be on the excessive finish of its earlier forecast vary of $1.11 billion to $1.15 billion.
The revised income outlook implies a sequential development of about 1 per cent and a year-over-year development of 12 per cent, the corporate mentioned.
Sanghi mentioned the corporate’s bookings exercise has “remained strong through November with backlog filling in better than expected in the current quarter and growing nicely into the March 2026 quarter.”