Categories AlphaGraphs, Earnings, Technology
Analog Devices (ADI) reports flat earnings for Q3; provides Q4 outlook
Analog Devices’ (NASDAQ: ADI) GAAP earnings in the third quarter of 2020 remained the same as in the prior-year quarter. On an adjusted basis, earnings rose 8% to $1.36 per share. Revenue slid 2% to $1.46 billion in Q3. The company also provided an outlook for its fourth quarter of 2020.
ADI stock was trading almost flat in the pre-market trading hours.
For the fourth quarter of fiscal 2020, Analog Devices expects revenue of $1.44 billion, +/- $70 million. The company estimates reported EPS to be $0.95, +/-$0.10, and adjusted EPS to be $1.32, +/-$0.10 for its final quarter of 2020.
Last month, Analog Devices entered into a merger agreement with Maxim Integrated Products (NASDAQ: MXIM), under which ADI will acquire Maxim in an all-stock transaction that values the combined enterprise at over $68 billion. This deal is expected to be completed in the summer of 2021.
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