Semiconductor company Analog Devices, Inc. (NASDAQ: ADI) on Wednesday reported a double-digit increase in earnings and revenues for the first quarter of 2023.
Net income, adjusted for one-off items, climbed to $2.75 per share in the January quarter from $1.94 per share in the same period of 2022. On a reported basis, earnings more than doubled to $961.5 million or $1.88 per share.
The impressive bottom-line performance reflects a 21% increase in revenues to $3.25 billion. All operating segments, except the consumer division, expanded during the quarter.