Analog Devices Q1 2024 Adj EPS $1.73 Beats $1.71 Estimate, Sales $2.51B Beat $2.50B Estimate
Portfolio Pulse from Benzinga Newsdesk
Analog Devices reported Q1 2024 adjusted EPS of $1.73, surpassing the $1.71 estimate, with sales of $2.51B also beating the $2.50B estimate. However, this represents a 22.68% decrease in sales compared to the same period last year.
February 21, 2024 | 12:00 pm
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Analog Devices exceeded Q1 2024 earnings and sales expectations but experienced a significant year-over-year sales decline.
While Analog Devices surpassed analyst expectations for Q1 2024, the significant decrease in sales compared to the previous year may temper investor enthusiasm. The positive earnings beat could provide some upward momentum, but the sales decline highlights potential challenges, leading to a neutral short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100