Categories AlphaGraphs, Earnings, Technology
ADI Earnings: Analog Devices reports sharp fall in Q2 revenue and profit
Semiconductor company Analog Devices, Inc. (NASDAQ: ADI) reported a sharp decline in revenues and adjusted profit for the second quarter of 2024.
Second-quarter earnings, excluding special items, declined 51% year-over-year to $1.40 per share from $2.83 per share last year. On a reported basis, net income plunged to $302.2 million or $0.61 per share in the April quarter from $977.7 million or $1.92 per share in Q2 2023.
The bottom line performance was negatively impacted by a 34% fall in revenues to $2.16 billion in the second quarter from $3.26 billion in the prior year period.
“ADI delivered second-quarter revenue above the midpoint of our outlook, despite continued macro and inventory headwinds. Further, the strength and resiliency of our business model, coupled with disciplined cost control, enabled us to achieve profitability and earnings per share above the high-end of our outlook,” said the company’s CEO Vincent Roche.
Prior Performance
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
