Market Overview

UPDATE: Analog Devices Posts 2.4% Drop In FQ4 Profit, Issues Downbeat FQ1 Forecast

Related ADI
New Qualcomm Trial Could Provide Upside For These Semiconductor Stocks
Do Apple And Xiaomi's Numbers Bode Poorly For China's Smartphone Market?
Qorvo: With Less Apple, Life May Still Be Healthy (Seeking Alpha)

Analog Devices (NYSE: ADI) reported a 2.4% drop in its fiscal fourth-quarter earnings and issued downbeat forecast for the fiscal first quarter.

For the fiscal first-quarter, Analog Devices expects earnings of $0.40 to $0.48 per share on revenue drop of 6% to 12%. However, analysts were expecting a profit of $0.54 per share on revenue growth of 5%.

Analog Devices' quarterly profit fell to $179.2 million, or $0.58 per share, from $183.5 million, or $0.60 per share, in the year-ago period.

Its revenue fell 3% to $695 million. Analog Devices in August expected earnings of $0.54 to $0.60 per share on revenue of $685 million to $715 million.

Its gross margin declined to 63.8% from 64.3%.

Analog Devices shares dropped 2.77% to $39.00 in after-hours trading.

Posted-In: profitEarnings News Guidance


Related Articles (ADI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters