Technology company Analog Devices, Inc. (NASDAQ: ADI) on Wednesday reported lower revenues and adjusted profit for the first quarter of 2025.
First-quarter earnings, excluding special items, declined 6% to $1.63 per share from $1.73 per share last year. On a reported basis, net income was $391.3 million or $0.78 per share in the January quarter, compared to $462.7 million or $0.93 per share in Q1 2024.
The weak earnings performance reflects a 4% decline in revenues to $2.42 billion in the first quarter from $2.51 billion in the prior year period.
“Bookings continued to show gradual improvement during the first quarter with strength in Industrial and Automotive positioning us to grow sequentially and year-over-year in our second fiscal quarter,” said the company’s CFO Richard Puccio.
