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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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