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.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard