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Technology Stocks : Semi Equipment Analysis

SOXX 328.78

+2.9%

Jan 9 4:00 PM EST

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To: Return to Sender who wrote (92760)	8/1/2024 4:31:51 PM
From: Return to Sender	Read Replies (1) of 95703

Microchip beats by $0.01, reports revs in-line; guides SepQ EPS below consensus, revs below consensus 4:20 PM ET 8/1/24 \| Briefing.com Reports Q1 (Jun) earnings of $0.53 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.52; revenues fell 45.8% year/year to $1.24 bln vs the $1.24 bln FactSet Consensus. Co issues downside guidance for Q2 (Sep), sees EPS of $0.40-0.46, excluding non-recurring items, vs. $0.59 FactSet Consensus; sees Q2 revs of $1.12-1.18 bln vs. $1.31 bln FactSet Consensus.Co continued to "navigate a challenging macro environment in combination with our customers focusing on reducing their inventory positions based on short lead times for our products," said Ganesh Moorthy, President and Chief Executive Officer. "Our strategic cost management actions have helped maintain financial resilience and operational efficiency in the face of a 6.4% sequential revenue decline this quarter."

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