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Analog Devices (ADI) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

Analog Devices (ADI) reported $3.26 billion in revenue for the quarter ended April 2023, representing a year-over-year increase of 9.8%. EPS of $2.83 for the same period compares to $2.40 a year ago.

The reported revenue represents a surprise of +1.78% over the Zacks Consensus Estimate of $3.21 billion. With the consensus EPS estimate being $2.75, the EPS surprise was +2.91%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Analog Devices performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Consumer: $280.06 million versus $312.96 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -23.1% change.

  • Revenue- Communications: $453.53 million compared to the $452.93 million average estimate based on seven analysts. The reported number represents a change of -4.1% year over year.

  • Revenue- Automotive: $784.78 million compared to the $719.40 million average estimate based on seven analysts. The reported number represents a change of +23.8% year over year.

  • Revenue- Industrial: $1.74 billion compared to the $1.68 billion average estimate based on seven analysts. The reported number represents a change of +16.2% year over year.

View all Key Company Metrics for Analog Devices here>>>

Shares of Analog Devices have returned +3.7% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research