Investing.com - Analog Devices (NASDAQ:ADI) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Analog Devices announced earnings per share of $1.36 on revenue of $1.46B. Analysts polled by Investing.com anticipated EPS of $1.28 on revenue of $1.43B.
Analog Devices shares are down 0% from the beginning of the year, still down 7.47% from its 52 week high of $127.39 set on June 5. They are under-performing the Nasdaq which is up 24.95% from the start of the year.
Analog Devices shares gained 0.53% 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 July 30, who reported EPS of $2.58 on revenue of $59.69B, compared to forecasts EPS of $2.05 on revenue of $52.29B.
Microsoft had beat expectations on July 22 with fourth quarter EPS of $1.46 on revenue of $38.03B, compared to forecast for EPS of $1.34 on revenue of $36.54B.
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