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

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Add Comment
Viewing Highlight