Analog Devices Q2 Results Top Estimates

(RTTNews) - Analog Devices, Inc. (ADI) reported net income for the second quarter of $187.4 million or $0.59 per share, compared to $164.5 million or $0.52 per share for the year-ago quarter.

Revenue for the second quarter rose 5% to $694.54 million from $659.25 million in the same quarter last year.

Analysts polled by Thomson Ruters expected the company to earn $0.56 per share on revenue of $670.93 million for the second quarter.

Looking forward to the third quarter, the company forecasts revenue to be uo 1% to 5% sequentially and earnings to be $0.60 to $0.64 per share. Analysts currently expect the company to earn $0.61 per share on revenue of $695.00 million for the third quarter.