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.
Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the
Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3
Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer