By Mackenzie Tatananni
Shares of Analog Devices climbed in premarket trading Thursday after the semiconductor company reported second-quarter earnings and revenue that topped Wall Street expectations.
Adjusted earnings of $1.85 a share beat the $1.70 that analysts had anticipated, according to FactSet. The company reported $2.64 billion in revenue, surpassing Wall Street's $2.51 billion consensus estimate.
Shares rose 3.5% to $230 in premarket trading. Futures tracking the S&P 500 and tech-heavy Nasdaq Composite were up 0.1% and 0.2%, respectively.
Analog Devices cited "double-digit year-over-year growth across all end markets." The latest results also represented sequential growth, topping earnings of $1.63 a share and revenue of $2.42 billion in the first quarter.
"Against a backdrop of global trade volatility, our performance reflects the ongoing cyclical recovery, and the strength and resiliency of our business model," CEO and Chair Vincent Roche said in a statement.
Management guided for third-quarter adjusted earnings in the range of $1.82 to $2.02 a share and revenue of $2.75 billion, plus or minus $100 million. Analysts polled by FactSet had forecast earnings of $1.80 a share on revenue of $2.61 billion.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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May 22, 2025 07:19 ET (11:19 GMT)
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