Analog Devices Inc. (ADI) reported revenues of $1.51 billion for the second quarter of 2018, an increase of 32% compared to the prior-year period. The increase in revenues was driven by R&D investments and a double-digit B2B revenue growth.
GAAP net income increased to $379 million or $1.01 per diluted share, from $93 million or $0.27 per diluted share in the prior year period. Adjusted diluted EPS was $1.45. Analog’s quarterly revenue and adjusted EPS results beat analyst expectations, leading to a 1.4% rise in the stock during premarket hours.
In Industrial, Analog saw year-over-year revenue growth of 47% leading to total revenues of $788 million during the quarter for this end-market. In Automotive, revenues grew 28% to $238 million, while in Communications, it grew 34% to $287 million. Consumer revenues declined 6% during the quarter amounting to $198 million.
For the third quarter of 2018, the company expects revenues to be $1.47 billion to $1.55 billion. GAAP EPS is expected to be $0.96 to $1.10 while non-GAAP EPS is projected to be in the range of $1.38 to $1.52. Analog Devices expects B2B markets to deliver double-digit growth in the third quarter.
Analog Board of Directors declared a quarterly cash dividend of $0.48 per outstanding share of common stock, payable on June 19, 2018 to all shareholders as on June 8, 2018.
Most Popular
Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues
Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5
Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights
Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion
AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops
Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the