Analog Devices Registers 79% Revenue Growth In Q2 Backed By Robust Growth In End Markets

  • 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.
Posted In: BriefsEarningsNewsGuidanceDividendsTech