Analog Devices Q3 Profit Increases, but misses estimates

(RTTNews) - Analog Devices (ADI) revealed earnings for its third quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $877.02 million, or $1.74 per share. This compares with $748.99 million, or $1.44 per share, in last year's third quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.49 per share for the period.

Analysts on average had expected the company to earn $2.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.0% to $3.08 billion from $3.11 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q3): $877.02 Mln. vs. $748.99 Mln. last year. -EPS (Q3): $1.74 vs. $1.44 last year. -Analyst Estimate: $2.52 -Revenue (Q3): $3.08 Bln vs. $3.11 Bln last year.

-Guidance: Next quarter EPS guidance: $1.90 - $2.10 Next quarter revenue guidance: $2.60 - $2.80 Bln