Analog Devices Issues Better-Than-Expected 3Q Guidance

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By Will Feuer

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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 .
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32 a share and $2.52 a share. Analysts surveyed by FactSet were expecting $2.17 a share.

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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 [email protected]

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Credit: www.marketwatch.com /

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