Net sales of $1.766 billion, down 21.7% sequentially and down 18.6% from the year ago quarter. Our preliminary net sales results provided on January 8,.
Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2024 virtual-strategy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from virtual-strategy.com Daily Mail and Mail on Sunday newspapers.
Microchip Technology (MCHP) faces Q3 challenges with a notable 18.6% YoY sales dip at $1.766 billion. CEO Ganesh Moorthy addresses weaker demand impacting shipments and extended shutdowns. While delivering a beat in adjusted EPS at $1.08, the company experiences a 3.74% stock decline. Amidst these hurdles, Microchip adapts by reducing debt, initiating buybacks, and boosting dividends by 25.7%.