Analog Devices Inc. (ADI) has forecasted third-quarter revenue above Wall Street expectations, driven by increased demand for its automotive and industrial chips. The company reported second-quarter revenue of $2.16 billion, surpassing the midpoint of its outlook. Diluted earnings per share were $0.61, while adjusted diluted earnings per share stood at $1.40. Operating cash flow reached $4.3 billion, with free cash flow at $3.1 billion on a trailing twelve-month basis. ADI also provided guidance for the next quarter, expecting revenue to be $2.27 billion, plus or minus $100 million, representing a 5% sequential increase. The company's stock saw a positive reaction, jumping on the strong guidance and Q2 results. ADI cited inventory stabilization and improving orders as key factors for the beat and raise.
$ADI Guidance: "Revenue is expected to be $2.27 billion, plus or minus $100 million, up 5% sequentially at the midpoint. Once again, we expect sell-through to be higher than sell-in. At the midpoint, we expect all B2B markets to increase sequentially with the fastest growth in… https://t.co/fL9ybjPfQs
Analog Devices forecasts quarterly revenue above estimates on chip market recovery https://t.co/u8uwvVUTlU https://t.co/fVP8guHLBy
Analog Devices $ADI stock jumps on strong guidance, Q2 results beat https://t.co/9CsRygZRVB https://t.co/spy1HshzkY
$ADI with a beat, and more importantly a raise for next Q for a change, citing inv stabilization and improving orders
$ADI Earnings - Revenue of $2.16 billion, above the midpoint of our outlook - Diluted earnings per share: $0.61 - Adjusted diluted earnings per share: $1.40 - Operating cash flow of $4.3 billion and free cash flow of $3.1 billion on a trailing twelve-month basis - Returned over… https://t.co/P5XeyAq6n0
⚠️ ANALOG DEVICES FORECASTS QUARTERLY REVENUE ABOVE ESTIMATES Full Story → https://t.co/RXthXuogc2 Analog Devices forecast third-quarter revenue above Wall Street expectations on Wednesday, helped by a rise in demand for its automotive and industrial chips after a prolonged… https://t.co/SdX5q5kKOn