WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Wednesday reported fiscal third-quarter earnings of $1.34 billion.
The Wilmington, Massachusetts-based company said it had profit of $2.74 per share. Earnings, adjusted for one-time gains and costs, were $3.45 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.33 per share.
The semiconductor maker posted revenue of $4.02 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $3.92 billion.
For the current quarter ending in October, Analog Devices expects its per-share earnings to range from $3.71 to $4.01.
The company said it expects revenue in the range of $4.2 billion to $4.4 billion for the fiscal fourth quarter.
Analog Devices shares have risen 39% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has climbed 63% 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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