Analog Devices Q3 Earnings: Revenue And EPS Beat, CFO Highlights Improved Inventory And Order Momentum For Q4
Portfolio Pulse from Anusuya Lahiri
Analog Devices, Inc. (NASDAQ:ADI) reported better-than-expected Q3 earnings, with revenue and EPS beating analyst estimates. Despite a year-on-year revenue decline, the company sees improved inventory and order momentum for Q4, projecting revenue and EPS above consensus. ADI stock rose 4.70% premarket.
August 21, 2024 | 12:01 pm
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Analog Devices reported Q3 earnings with revenue and EPS beating estimates. Despite a 25% revenue decline, improved inventory and order momentum are expected to drive growth in Q4. ADI stock rose 4.70% premarket.
The earnings beat and positive outlook for Q4, with revenue and EPS projections above consensus, are likely to boost investor confidence, leading to a positive short-term impact on ADI's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100