Analog Devices' stock jumped 6% after reporting strong Q3 earnings. CFO Rich Puccio's earnings call comments regarding the auto industry tempered the market reaction.
Analog Devices' (ADI) third-quarter fiscal 2024 results are hurt by weakness in industrial, communications and automotive end markets.
Analog Devices, Inc. (NASDAQ:ADI ) Q3 2024 Earnings Conference Call August 21, 2024 10:00 AM ET Company Participants Michael Lucarelli - Vice President, Investor Relations and FP&A Vincent Roche - Chief Executive Officer and Chair of the Board of Directors Richard Puccio - Executive Vice President and Chief Financial Officer Conference Call Participants Tore Svanberg - Stifel Joseph Moore - Morgan Stanley Vivek Arya - Bank of America Securities Timothy Arcuri - UBS Toshiya Hari - Goldman Sachs Stacy Rasgon - Bernstein Research Christopher Danley - Citigroup Harlan Sur - JPMorgan Joshua Butler - TD Cowen Operator Good morning. And welcome to the Analog Devices ' Third Quarter Fiscal Year 2024 Earnings Conference Call, which is being audio webcast via telephone and over the web.
Analog Devices (NASDAQ: ADI ) just reported results for the third quarter of 2024. Analog Devices reported earnings per share of $1.58.
Analog Devices (ADI) shares advanced in intraday trading Wednesday after the semiconductor maker posted better-than-expected results as it benefited from a rebound in the industry.
Although the revenue and EPS for Analog Devices (ADI) give a sense of how its business performed in the quarter ended July 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Analog Devices (ADI) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $2.49 per share a year ago.
Analog Devices forecast fourth-quarter revenue and profit above Wall Street expectations on Wednesday, as it benefits from returning demand for its chips used in consumer electronics.
The semiconductor company reports third-quarter adjusted earnings of $1.58 a share, beating Wall Street estimates of $1.51.
Chipmaker Analog Devices beat Wall Street's targets for its fiscal Q3 and guided modestly higher than views for Q4.
Analog Devices' (ADI) third-quarter fiscal 2024 results are likely to be affected by softness in the industrial, consumer and communication markets.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?