Analog Devices beats by $0.15, beats on revs; guides Q2 EPS above consensus, revs above consensus; declares dividend
7:03 AM ET 2/15/23 | Briefing.com
Reports Q1 (Jan) earnings of $2.75 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $2.60; revenues rose 21.1% year/year to $3.25 bln vs the $3.15 bln S&P Capital IQ Consensus.Adjusted gross margin 73.6% versus 71.9% in year-ago period. Co issues upside guidance for Q2, sees EPS of $2.65-2.85, excluding non-recurring items, vs. $2.42 S&P Capital IQ Consensus; sees Q2 revs of $3.1-3.3 bln vs. $3.04 bln S&P Capital IQ Consensus.At the midpoint of this revenue outlook, we expect reported operating margin of approximately 34.7%, +/-130 bps, and adjusted operating margin of approximately 51.0%, +/-70 bps. The ADI Board of Directors has declared a quarterly cash dividend of $0.86 per outstanding share of common stock. The dividend will be paid on March 8, 2023 to all shareholders of record at the close of business on February 27, 2023.
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