WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Wednesday reported fiscal second-quarter earnings of $302.2 million.
On a per-share basis, the Wilmington, Massachusetts-based company said it had net income of 61 cents. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The semiconductor maker posted revenue of $2.16 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $2.1 billion.
For the current quarter ending in July, Analog Devices expects its per-share earnings to range from 61 cents to 81 cents.
The company said it expects revenue in the range of $2.17 billion to $2.37 billion for the fiscal third quarter.
Analog Devices shares have increased 9% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has climbed 13% in the last 12 months.
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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
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