Analog Devices Earnings: Here’s Why Investors are Selling Shares Now
Analog Devices Inc. (NYSE:ADI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.82%.
Analog Devices Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 1.79% to $0.57 in the quarter versus EPS of $0.56 in the year-earlier quarter.
Revenue: Decreased 1.29% to $674.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Analog Devices Inc. reported adjusted EPS income of $0.57 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $671.79 million.
Quoting Management: “ADI delivered solid results for the third quarter. Compared to the prior quarter, revenue increased by 2% and our operating model produced excellent leverage, driving diluted EPS growth of 10%, excluding special items,” said Vincent Roche, President and CEO. “Profitability and cash flow were very strong, and we returned $105 million to our shareholders through cash dividends.”
Key Stats (on next page)…