Analog Devices Inc
- Analog Devices increased 5.4% to $228.32 after the company reported better-than-expected quarterly results in the fiscal second quarter ending in April.
Revenue in the quarter decreased 34% to $2.2 billion from $3.3 billion, net income decreased to $302.2 million from $977.6 million, and diluted earnings per share fell to 61 cents from $1.92 a year ago.
The company's board of directors declared a quarterly cash dividend of 92 cents per share payable on June 17 to shareholders of record at the close of June 4.
The company estimated fiscal third quarter revenue of $2.27 billion with a band of $100 million, an increase of 20.1% from a year ago.
The company also estimated earnings per share of 70 cents with a band of 10 cents and adjusted earnings per share of $1.50 with a band of 10 cents.
May 22, 2024
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