© Reuters. Analog Devices (ADI) Tops EPS, Revenue Estimates; Analyst Positive
Analog Devices (NASDAQ:) reported better-than-expected Q2 results and issued an upbeat outlook for Q3.
Q2 adjusted EPS of $2.40, up from $1.54 in the year-ago period and above the consensus estimates of $2.11 per share. Revenue came in at $2.97 billion, topping the analyst consensus of $2.84 billion.
Industrial revenue stood at $1.5 billion, while analysts were looking for $1.41 billion. ADI reported a Q2 adjusted gross margin of 74.2%, above the estimated 72.1%. The adjusted operating margin stood at 50.3% in the period, compared to the expected 46.95%.
Looking ahead to Q3, Analog Devices expects adjusted EPS in the range of $2.32 to $2.52, above the analyst consensus of $2.17 per share. Revenue is expected to range between $2.95 billion and $3.15 billion in the third quarter, also above the consensus projection of $2.89 billion.
The company also said it expects expanded capacity and continued bookings momentum going forward.
Vital Knowledge analysts weighed in to say that “there isn’t anything to complain about” in ADI’s earnings report given “huge upside” on margins.
ADI shares are down 1% at the open.
By Senad Karaahmetovic
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