ADI Earnings: All you need to know about Analog Devices’ Q2 results

Analog Devices, Inc. (NASDAQ: ADI) has reported a double-digit increase in second-quarter revenues and adjusted profit. The chipmaker also provided guidance for the third quarter of 2022.

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.

Read management/analysts’ comments on quarterly reports

Shares of Analog Devices traded lower early Thursday after closing the previous session lower. ADI has lost about 10% since the beginning of 2022.