Analog Devices Inc. (NYSE:ADI) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.19%.
Analog Devices Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.89% to $0.52 in the quarter versus EPS of $0.53 in the year-earlier quarter.
Revenue: Decreased 2.38% to $659 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Analog Devices Inc. reported adjusted EPS income of $0.52 per share. By that measure, the company missed the mean analyst estimate of $0.52. It missed the average revenue estimate of $660.84 million.
Quoting Management: “We had a solid second quarter led by strong sequential revenue growth from industrial and automotive applications,” said Vincent Roche, President and CEO. “Excluding special items, operating margins expanded 300 basis points compared to the prior quarter and diluted earnings per share grew three times faster than revenue over the same period, demonstrating the strength of our operating model.”
Key Stats (on next page)…