Analog Devices (ADI) Tops Q1 EPS by 20c; Issues Solid Outlook
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Analog Devices (NASDAQ: ADI) reported Q1 EPS of $0.94, $0.20 better than the analyst estimate of $0.74. Revenue for the quarter came in at $984 million versus the consensus estimate of $871.58 million.
Analog Devices sees Q2 2017 EPS of $0.74-$0.86, versus the consensus of $0.76. Analog Devices sees Q2 2017 revenue of $870-950 million, versus the consensus of $877.74 million.
"'We have started 2017 with strong and broad-based momentum in our business,” said Vincent Roche, President and CEO. “Our strategy to focus on sustainable and differentiated innovation helped drive 28% year-on-year revenue growth, and our laser focus on operational execution drove strong year-on-year margin expansion and cash generation in the first quarter.”
"In addition, we are pleased with the progress we are making to close the acquisition of Linear Technology, and expect the deal to close by the end of our second fiscal quarter. The combination with Linear Technology, we believe, will create an analog industry powerhouse, capable of creating tremendous value for our customers, employees, and shareholders.”
“Looking ahead to the April quarter, we are planning for revenue to be in the range of $870 million to $950 million, with sequential aggregate strength in our Business to Business (B2B) markets of industrial, automotive, and communications infrastructure being offset by seasonal patterns in the portable consumer market. At the mid-point of this range, we expect revenueto grow 17% over the prior year, which would represent the 4th consecutive quarter of year-over-year revenue growth for ADI.”
For earnings history and earnings-related data on Analog Devices (ADI) click here.
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