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 $1.94 on revenue of $2.68B. Analysts polled by Investing.com anticipated EPS of $1.79 on revenue of $2.61B.
Analog Devices shares are down 7% from the beginning of the year, still down 15.58% from its 52 week high of $191.95 set on November 22, 2021. They are outperforming the Nasdaq 100 which is down 10.41% from the start of the year.
Analog Devices follows other major Information Technology sector earnings this month
Analog Devices's report follows an earnings beat by Apple on January 27, who reported EPS of $2.1 on revenue of $123.95B, compared to forecasts EPS of $1.9 on revenue of $119B.
Microsoft had beat expectations on January 25 with second quarter EPS of $2.48 on revenue of $51.73B, compared to forecast for EPS of $2.32 on revenue of $50.74B.
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