Analog Devices said it expects fiscal second-quarter earnings of $1.26 a share, plus or minus 10 cents. Analysts surveyed by FactSet were expecting earnings of $1.56. Revenue expectations of $2.1 billion, plus or minus $100 million, also missed the consensus call of $2.36 billion.
For the first quarter ended Feb. 3, the company reported earnings of $1.73 a share on revenue of $2.51 billion. Analysts surveyed by FactSet were expecting Analog Devices to report earnings of $1.71 a share on revenue of $2.5 billion.
In the same period the prior year, Analog Devices posted earnings of $2.75 a share on revenue of $3.25 billion.
“ADI delivered first quarter revenue and profitability above the midpoint of our outlook, despite the continued difficult macroeconomic environment,” Chief Executive Vincent Roche said in the earnings release.