Categories AlphaGraphs, Earnings, Technology

Higher B2B revenue lifts Analog Devices results in Q2

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.

Analog Devices second quarter 2018 earnings

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

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top