Analog Devices Profit Tops Estimates

(RTTNews) - Chipmaker Analog Devices Inc (ADI) on Tuesday reported second-quarter net earnings of $205.3 million or $0.65 per share compared with $187.4 million or $0.59 per share last year.

Excluding acquisition-related costs and other one-time items, adjusted earnings for the quarter were $0.73 per share.

On average, 25 analysts polled by Thomson Reuters estimated earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 18 percent at $821 million compared with $694.5 million in the prior year. Twenty-three analysts had a consensus revenue estimate of $820.4 million for the quarter.

For the third quarter, the company expects adjusted earnings of $0.71 to $0.77 per share on revenues of $825 million to $865 million. Analysts expect earnings of $0.77 per share on revenues of $845.84 million.