Microchip third-quarter results beat estimates; shares up 6 pct
Feb 7 (Reuters) - Chipmaker Microchip Technology Inc reported better-than-expected third-quarter results, boosted by sales of its microcontrollers, sending its shares up 6 percent in extended trading.
Net income fell to $10.2 million, or 5 cents per share, from $77.5 million, or 38 cents per share, a year earlier.
Excluding items, the company earned 41 cents per share. Analysts on average had expected earnings of 37 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 26 percent to $416 million, above the average analyst expectation of $411.4 million.
Microchip shares rose to $36.20 after closing at $33.94 on the Nasdaq on Thursday.
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