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
American Express (AXP) Q2 2025 Earnings: Key financials and quarterly highlights
American Express Company (NYSE: AXP) reported its second quarter 2025 earnings results today. Consolidated total revenues, net of interest expense, were $17.9 billion, up 9% year-over-year, driven by increased Card
Netflix Q2 earnings jump on strong revenue growth; results beat estimates
Video streaming giant Netflix, Inc. (NASDAQ: NFLX) reported a sharp increase in revenue and profit for the second quarter of fiscal 2025. The numbers also beat analysts' estimates. The company's
Tesla Q2 Earnings Preview: Can energy gains offset EV demand Slump?
For Tesla Inc. (NASDAQ: TSLA), the new fiscal year has been quite challenging, with first-quarter sales falling to a three-year low amid production issues related to Model Y and increasing