Investing.com - Analog Devices (NASDAQ:ADI) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Analog Devices announced earnings per share of $1.08 on revenue of $1.32B. Analysts polled by Investing.com anticipated EPS of $1.04 on revenue of $1.33B. That with comparison to EPS of $1.36 on revenue of $1.53B in the same period a year before. Analog Devices had reported EPS of $1.03 on revenue of $1.3B in the previous quarter. Analysts are expecting EPS of $1.04 and revenue of $1.34B in the upcoming quarter.
Analog Devices shares are down 10% from the beginning of the year , still down 16.47% from its 52 week high of $127.30 set on February 19. They are under-performing the Nasdaq which is up 1.61% year to date.
Analog Devices shares gained 3.36% in pre-market trade following the report.
Analog Devices follows other major Technology sector earnings this month
Analog Devices's report follows an earnings beat by Microsoft on April 29, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.66B.
Apple had beat expectations on April 30 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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