Investing.com - Analog Devices (NASDAQ:ADI) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Analog Devices announced earnings per share of $1.44 on revenue of $1.56B. Analysts polled by Investing.com anticipated EPS of $1.32 on revenue of $1.51B.
Analog Devices shares are up 8% from the beginning of the year, still down 2.11% from its 52 week high of $163.95 set on February 16. They are outperforming the S&P 500 which is up 4.7% from the start of the year.
Analog Devices shares gained 0.04% 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 Apple on January 27, who reported EPS of $1.68 on revenue of $111.44B, compared to forecasts EPS of $1.42 on revenue of $103.27B.
Microsoft had beat expectations on January 26 with second quarter EPS of $2.03 on revenue of $43.08B, compared to forecast for EPS of $1.64 on revenue of $40.22B.
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