WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Tuesday reported fiscal fourth-quarter profit of $787.7 million.
The Wilmington, Massachusetts-based company said it had profit of $1.60 per share. Earnings, adjusted for one-time gains and costs, were $2.26 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
The semiconductor maker posted revenue of $3.08 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $3.01 billion.
For the year, the company reported profit of $2.27 billion, or $4.56 per share. Revenue was reported as $11.02 billion.
For the current quarter ending in January, Analog Devices expects its per-share earnings to range from $2.19 to $2.39.
The company said it expects revenue in the range of $3 billion to $3.2 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 14%. The stock has climbed 12% 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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