Categories AlphaGraphs, Earnings, Technology

Analog Devices (ADI) Q2 profit dips 27% but beats estimates

Analog Devices, Inc. (NASDAQ: ADI) reported its financial results for the quarter ended May 2, 2020, on Wednesday before the market opens. The bottom line exceeded analysts’ expectations while the top line missed consensus estimates.

Analog Devices (ADI) Q2 2020 earnings

Analog Devices posted a 27% dip in earnings for the second quarter of 2020 due to lower revenue. The company has moved with speed and agility to pivot supply chain and meet customer demand, expediting production and shipments of essential products, including solutions used in medical equipment in the fight against COVID-19.

For the third quarter, the company expects revenue of $1.32 billion, plus or minus $70 million, and reported EPS to be $0.72, plus or minus $0.11. The adjusted EPS is predicted to be $1.08, plus or minus $0.11. The board of directors has declared a quarterly cash dividend of $0.62 per outstanding share of common stock. The dividend will be paid on June 9, 2020, to all shareholders of record at the close of business on May 29, 2020.

Past Performance

Also Read:  Momo Inc. (MOMO) Q2 2020 Earnings Call Transcript

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related

Top