Analog Devices beats by $0.07, beats on revs; guides Q4 EPS in-line, revs in-line
7:02 AM ET 8/21/24 | Briefing.com
Reports Q3 (Jul) earnings of $1.58 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $1.51; revenues fell 24.8% year/year to $2.31 bln vs the $2.27 bln FactSet Consensus. Co issues in-line guidance for Q4, sees EPS of $1.53-$1.73, excluding non-recurring items, vs. $1.62 FactSet Consensus; sees Q4 revs of $2.30-$2.50 bln vs. $2.38 bln FactSet Consensus."Improved customer inventory levels and order momentum, across most of our markets, position us to grow again sequentially in our fourth quarter, increasing our confidence that we are past the trough of this cycle. However, economic and geopolitical uncertainty continues to limit the pace of the recovery" said Richard Puccio, CFO. |
