news/ADI/2023.02.15/Analog Devices : Fiscal Q1 Earnings Snapshot.txt

WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Wednesday reported fiscal first-quarter profit of $961.5 million.The Wilmington, Massachusetts-based company said it had profit of $1.88 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $2.75 per share.The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.59 per share.The semiconductor maker posted revenue of $3.25 billion in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $3.14 billion.For the current quarter ending in April, Analog Devices expects its per-share earnings to range from $2.65 to $2.85. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.50.The company said it expects revenue in the range of $3.1 billion to $3.3 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.11 billion.Analog Devices shares have increased 11% since the beginning of the year, while the S&P's 500 index has climbed almost 8%. The stock has risen 19% in the last 12 months.This story was generated by  Automated Insights  (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a  Zacks stock report on ADI  at https://www.zacks.com/ap/ADIFor copyright information, check with the distributor of this item, STATS Perform dba Automated Insights., source Associated Press News