Analog Devices' Q3 Results Falter, Margins Shrink - CEO Cites Inventory Adjustments Amid Economic Shifts
Portfolio Pulse from Anusuya Lahiri
Analog Devices, Inc (NASDAQ:ADI) reported a Q3 FY23 revenue decline of 1% YoY to $3.08 billion, missing the consensus of $3.10 billion. Adjusted EPS of $2.49 also missed the consensus of $2.52. The company's Industrial and Automotive revenues grew, while Communications and Consumer revenues declined. The company's adjusted gross margin and operating margin also fell. The company declared a quarterly cash dividend of $0.86 per share. The company's Q4 revenue and adjusted EPS outlook also fell short of consensus estimates.
August 23, 2023 | 1:18 pm
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Analog Devices reported lower than expected Q3 FY23 revenue and EPS. The company's Q4 outlook also fell short of consensus estimates, which could negatively impact the stock price in the short term.
Analog Devices reported lower than expected Q3 FY23 revenue and EPS, which could negatively impact investor sentiment. The company's Q4 outlook also fell short of consensus estimates, which could further dampen investor sentiment and put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100