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.

Analog Devices (ADI) Q3 2020 Earnings Infographic

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.

Looking forward to read what management and analysts discuss on quarterly results? Stay tuned here for Analog Devices Q3 2020 earnings call transcript

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