Analog Devices Issues Better-Than-Expected 3Q Guidance
May 18 2022 - 7:54AM
Dow Jones News
By Will Feuer
Analog Devices Inc. issued sales and profit guidance for the
fiscal third quarter above analysts' views Wednesday, even as the
company grapples with geopolitical uncertainty tied to the war in
Ukraine as well as continuing supply-chain challenges for the
semiconductor industry.
The semiconductor company said it expects adjusted earnings for
the fiscal third quarter to come in between $2.32 a share and $2.52
a share. Analysts surveyed by FactSet were expecting $2.17 a
share.
Sales for the current quarter are expected to be between $2.95
billion and $3.15 billion, above the $2.90 billion expected by Wall
Street, according to FactSet.
"Despite increasing geopolitical uncertainty and ongoing supply
chain disruptions, we enter the second half from a position of
strength with increased capacity and continued bookings momentum,"
Chief Executive Vincent Roche said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 18, 2022 07:39 ET (11:39 GMT)
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