Second-quarter earnings, excluding special items, climbed to $2.40 per share from $1.54 per share in the comparable period of 2021. On a reported basis, net income was $783.3 million or $1.49 per share, compared to $422.9 million or $1.14 per share last year.
Driving the earnings growth, total revenues increased 79% annually to $2.97 billion. All four operating segments registered strong growth and the Automotive and Consumer divisions performed exceptionally well.
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Shares of Analog Devices traded lower early Thursday after closing the previous session lower. ADI has lost about 10% since the beginning of 2022.