Categories AlphaGraphs, Earnings, Technology

5G deployment boosts Analog Devices Q1 results

Chipmaker Analog Devices (ADI) reported a 21% jump in earnings for the first quarter helped by lower costs and expenses as well as a decline in income taxes provision. The results exceeded analysts’ expectations, aided by the ongoing 4G upgrades and initial 5G deployments.

Net income climbed 21% to $355 million and earnings jumped 22% to $0.95 per share. Adjusted earnings dropped by 11% to $1.33 per share.

Revenue declined 2% to $1.54 billion. The top line was hurt by a fall in three segments. However, revenue came in at the high-end of the company’s guidance range with continued strength in its communications market related to ongoing 4G upgrades and initial 5G deployments.

Analog Devices first quarter 2019 earnings snapshot
Analog Devices Q1 2019 Earnings Infographic

Industrial revenue declined by 7% year-over-year to $728.1 million and automotive revenue inched down by 2% to $259.5 million. Consumer revenue plunged 21% to $208.3 million while communications revenue jumped by 34% to $345.2 million.

During the first quarter, the management returned more than $400 million to shareholders through dividends and share repurchases. Meanwhile, the board of directors declared a cash dividend of $0.54 per share, to be paid on March 12, 2019, to all shareholders of record on March 1, 2019.

Encouraged by the strong results, the company expects its second-quarter adjusted earnings of $1.30 per share, plus or minus seven cents. The guidance for unadjusted earnings and revenues is $0.94 per share, plus or minus seven cents, and $1.50 billion, plus or minus $50 million, respectively. The company’s second-quarter guidance came in line with market expectations.

Shares of Analog Devices opened higher on Wednesday and is trading in the green territory. The stock has risen over 22% in the past year and over 23% in the past three months.


Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text.

Most Popular

VZ Earnings: All you need to know about Verizon’s Q2 2024 earnings results

Verizon Communications Inc. (NYSE: VZ) reported its second quarter 2024 earnings results today. Total operating revenue was $32.8 billion, up 0.6% from the same period last year. Consolidated net income

Important Takeaways from Netflix’s (NFLX) Q2 2024 report

Netflix, Inc. (NASDAQ: NFLX) has expanded its subscriber base consistently in recent years, with growth accelerating after it launched a crackdown on password sharing a year ago. While delivering better-than-expected

American Express (AXP): Main takeaways from the Q2 2024 earnings report

Shares of American Express Company (NYSE: AXP) dropped over 3% on Friday after the company delivered mixed results for the second quarter of 2024. Profits beat expectations while revenue came

Add Comment
Viewing Highlight