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Dec 2 (Reuters) – Chipmaker Microchip Know-how on Tuesday raised its expectations for third-quarter internet gross sales and earnings per share, pushed by robust bookings, sending its shares up 2.3% in prolonged buying and selling.
The corporate now expects adjusted earnings per share of 40 cents, which is on the greater finish of its earlier projected vary of 34 to 40 cents per share.
“With two months of the quarter behind us, our enterprise is performing higher than we anticipated on the time of our November 6, 2025 earnings convention name,” CEO Steve Sanghi stated in an announcement.
Microchip stated it now expects internet 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 progress of about 1% and a year-over-year progress of 12%, the corporate stated.
Sanghi stated the corporate’s bookings exercise has “remained robust by way of November with backlog filling in higher than anticipated within the present quarter and rising properly into the March 2026 quarter.”
(Reporting by Jaspreet Singh in Bengaluru; Modifying by Alan Barona)
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