Microchip reaffirms Q3 EPS view $1.54-$1.56 in-line with estimates
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Microchip Technology (NASDAQ:MCHP) reaffirms Q3 guidance initially issued on November 3, 2022.
It sees consolidated net sales for the December 2022 quarter to be $2.135 billion to $2.177 billion vs. consensus of $2.16B, resulting in sequential growth of between 3.0% and 5.0%, or 22.7% Y/Y growth, at the mid-point of the guidance range.

The company also reaffirms its expectations for sequential revenue growth for the March 2023 quarter.
âWe expect to deliver our 9th consecutive quarter of record revenue in the December 2022 quarter. Our backlog for the quarter remains strong, our carefully curated end markets remain resilient, and while we see incremental supply chain improvements, several technology corridors remain constrained,â said Ganesh Moorthy, Microchipâs CEO.