Analog Devices’ Fiscal Q1 Adjusted Earnings, Revenue Decline; Sets Fiscal Q2 Guidance

Analog Devices (ADI) reported fiscal Q1 adjusted earnings Wednesday of $1.73 per diluted share, down from $2.75 a year earlier.

Analysts polled by Capital IQ expected $1.71.

Revenue for the quarter ended Feb. 3 was $2.51 billion, down from $3.25 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.50 billion.

The semiconductor company said it expects fiscal Q2 adjusted EPS in a range of $1.16 to $1.36 on revenue of $2 billion to $2.2 billion. Analysts polled by Capital IQ are expecting adjusted EPS of $1.57 on revenue of $2.36 billion.

Shares of Analog Devices were down more than 1% in recent Wednesday premarket activity.

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