Analog Devices Guides Q2 Above Estimates; Boosts Dividend 13% - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, semiconductor company Analog Devices Inc. (ADI) provided earnings and revenue guidance for the second quarter, above analysts' expectations.

For the second quarter, the company projects earnings in a range of $1.75 to $1.95 per share and adjusted earnings in a range of $2.65 to $2.85 per share on projected revenues between $3.10 billion and $3.30 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.42 per share on revenues of $3.03 billion for the quarter. Analysts' estimates typically exclude special items.

The company's Board of Directors also declared a 13 percent higher quarterly cash dividend of $0.86 per outstanding share of common stock, payable on March 8, 2023 to all shareholders of record at the close of business on February 27, 2023.

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