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Microchip Technology Fiscal Q1 Adjusted Earnings, Revenue Rise; Shares Jump After Hours

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Microchip Technology (MCHP) reported fiscal Q1 adjusted earnings late Thursday of $0.76 per diluted share, up from $0.27 a year earlier.

Analysts polled by FactSet expected $0.70.

Revenue in the three months ended June 30 rose to $1.48 billion from $1.08 billion a year earlier.

Analysts projected $1.46 billion.

The company expects fiscal Q2 adjusted EPS of $0.91 to $0.95 on revenue of $1.589 billion to $1.618 billion.

Analysts project EPS of $0.80 on revenue of $1.556 billion.

Microchip Technology maintained its quarterly dividend at $0.455 per share, payable Sept. 9 to stockholders of record Aug. 24.

The company's shares jumped 13% in after-hours trading.

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Cirrus Logic (CRUS) reported fiscal Q1 adjusted earnings late Wednesday of $1.84 per diluted share, up from $1.51 a year earlier.Analysts polled by FactSet expected $1.81.Revenue in the three months ended June 27 rose to $459.7 million from $407.3 million a year ago.Four analysts expected $460.3 million.The company expects fiscal Q2 revenue of $510 million to $570 million. Analysts project $570.1 million.Cirrus Logic shares fell 3.4% in after-hours trading.

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Block Q2 Adjusted Earnings, Revenue Rise

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