Investing.com - Analog Devices (NASDAQ:ADI) reported third quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of $1.26 on revenue of $1.48B. Analysts polled by Investing.com forecast EPS of $1.22 on revenue of $1.46B. That compared to EPS of $1.53 on revenue of $1.57B in the same period a year earlier. The company had reported EPS of $1.36 on revenue of $1.53B in the previous quarter.
Analog Devices shares gained 0.01% to trade at $110.30 in pre-market trade following the report.
Analog Devices shares gained 0.01% to trade at $110.30 in pre-market trade following the report.
For the year, Analog Devices shares are up 28.5%, outperforming the S&P 500 which is up 17.1% year to date.
Analog Devices follows other major Technology sector earnings this month
On Tuesday, July 30, 2019, Apple reported third quarter EPS of $2.18 on revenue of $53.81B, compared to forecasts of EPS of $2.09 on revenue of $53.32B.
Alphabet C earnings beat analyst's expectations on Thursday, July 25, 2019, with second quarter EPS of $14.21 on revenue of $38.94B. Investing.com analysts expected EPS of $11.1 on revenue of $38.15B
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