WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Tuesday reported fiscal fourth-quarter earnings of $478.1 million.
The Wilmington, Massachusetts-based company said it had profit of 96 cents per share. Earnings, adjusted for one-time gains and costs, were $1.67 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The semiconductor maker posted revenue of $2.44 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $2.41 billion.
For the year, the company reported profit of $1.64 billion, or $3.28 per share. Revenue was reported as $9.43 billion.
For the current quarter ending in January, Analog Devices expects its per-share earnings to range from $1.43 to $1.63.
The company said it expects revenue in the range of $2.25 billion to $2.45 billion for the fiscal first quarter.
Analog Devices shares have climbed 13% since the beginning of the year, while the S&P’s 500 index has risen 26%. The stock has risen 22% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADI at https://www.zacks.com/ap/ADI
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
