Analog Devices beats by $0.07, beats on revs; guides Q3 EPS below consensus, revs in-line
7:04 AM ET 5/24/23 | Briefing.com
Reports Q2 (Apr) earnings of $2.83 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $2.76; revenues rose 9.8% year/year to $3.26 bln vs the $3.21 bln S&P Capital IQ Consensus. Co issues guidance for Q3, sees EPS of $2.42-2.62, excluding non-recurring items, vs. $2.65 S&P Capital IQ Consensus; sees Q3 revs of $3.0-3.2 bln vs. $3.16 bln S&P Capital IQ Consensus."ADI continued to execute well in the second quarter with revenue growth for the thirteenth consecutive quarter and record earnings per share," said Vincent Roche, CEO and Chair. "Looking to the second half, we expect revenue to moderate given the continued economic uncertainty and normalizing supply chains. However, I am confident in ADI's ability to navigate short-term business cycles due to the strength and diversity of our franchise, our hybrid manufacturing model, and alignment to secular growth trends." |
