Key facts
- Analog Devices forecasts fourth-quarter revenue and profit above Wall Street estimates.
- The company expects fourth-quarter revenue between $4.2 billion and $4.4 billion.
- Analog Devices reported third-quarter revenue of $4.02 billion, up 40% from a year earlier.
- Analog Devices reported third-quarter adjusted earnings per share of $3.45, beating estimates of $3.33.
Analog Devices forecast fourth-quarter revenue and profit above Wall Street estimates, anticipating continued demand for its power-management chips used in data centers and industrial applications amid escalating AI investments. The company reported third-quarter revenue of $4.02 billion, a 40% increase year-over-year and surpassing analysts' estimates of $3.92 billion. Adjusted earnings per share for the quarter came in at $3.45, exceeding the $3.33 estimate.
CEO Vincent Roche stated that the company benefited from broad-based demand in the third quarter and that investments in innovation, customer relationships, and manufacturing capabilities position it to capitalize on opportunities in the AI era. For the fourth quarter, Analog Devices expects revenue to be between $4.2 billion and $4.4 billion, compared with analysts' average estimate of $4.07 billion. The company also projects fourth-quarter adjusted earnings per share of $3.86, higher than the estimated $3.54.
Shares of the chipmaker, which have gained approximately 39% so far this year, were flat in premarket trading.