Categories AlphaGraphs, Earnings, Technology
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.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Cost reduction has become a priority for FedEx (FDX) after a challenging quarter
Shares of FedEx Corporation (NYSE: FDX) were up 1% on Tuesday. The stock has dropped 44% year-to-date and 34% over the past 12 months. The company delivered mixed results for
Prime Medicine is the next big biotech to pursue IPO. Here’s all you need to know
After a soft start to the year, the IPO market has witnessed muted activity so far though a few big companies entered the stock market. On the heels of AIG
Stock Watch: Is Darden Restaurants a good buy after earnings?
After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many
