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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Analog Devices Inc | NASDAQ:ADI | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2.08 | 0.88% | 237.76 | 237.41 | 238.04 | 238.38 | 233.285 | 234.52 | 2,756,979 | 01:00:00 |
From Jun 2022 to Jun 2024
By Jeffrey T. Lewis
Analog Devices saw its profit rise in its second quarter after expenses declined and sales growth outpaced an increase in costs.
The Wilmington, Mass.-based semiconductor maker reported net income of $977.7 million, compared with $783.3 million a year earlier. Earnings per share rose to $1.92 from $1.49 and adjusted earnings per share rose to $2.83 from $2.40. Revenue increased to $3.26 billion from $2.97 billion.
Sales outperformed while profit fell short of market expectations. The consensus of analysts compiled by FactSet was for revenue of $3.21 billion and net income of $1.4 billion.
Cost of sales rose to $1.12 billion from $1.03 billion. Total operating expenses declined to $1.02 billion from $1.03 billion.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
May 24, 2023 08:01 ET (12:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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