Analog Devices Q2 Adj EPS $1.40 Beats $1.26 Estimate, Sales $2.160B Beat $2.106B Estimate
Portfolio Pulse from Benzinga Newsdesk
Analog Devices (NASDAQ:ADI) reported Q2 adjusted EPS of $1.40, beating the estimate of $1.26. Sales were $2.160 billion, surpassing the $2.106 billion estimate. However, sales decreased by 33.80% compared to the same period last year.
May 22, 2024 | 11:00 am
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Analog Devices reported better-than-expected Q2 earnings and sales, but experienced a significant year-over-year sales decline.
The positive earnings and sales surprise are likely to boost investor sentiment in the short term, despite the significant year-over-year sales decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100