- Analog Devices, Inc ADI reported second-quarter FY22 revenue growth of 79% year-on-year to $2.97 billion, beating the consensus of $2.84 billion.
- Adjusted EPS of $2.40 beat the consensus of $2.11.
- End Markets: Analog Devices' Industrial revenue grew 54% Y/Y to $1.5 billion.
- Automotive revenue increased 145% Y/Y to $633.9 million. Communications revenue rose 70% to $473.1 million, and Consumer revenue grew 146% to $363.9 million.
- Margins: The adjusted gross margin expanded 330 bps to 74.2%. The adjusted operating margin grew 860 bps to 50.3%.
- Analog Devices held $1.74 billion in cash and equivalents and generated $1.22 billion in operating cash flow.
- Dividend: The board declared a quarterly cash dividend of $0.76 per share, payable on June 9, 2022, to all shareholders of record on May 31, 2022.
- Outlook: Analog Devices sees Q3 revenue of $2.95 billion - $3.15 billion, above the consensus of $2.89 billion.
- The company sees adjusted EPS of $2.32 - $2.52, above the consensus of $2.16.
- Price Action: ADI shares traded higher by 1.93% at $167 in the premarket session on the last check Wednesday.
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