Analog Devices Tops Estimates but Sees Impact to Bookings From Economic Uncertainty | ADI Message Board Posts


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Msg  18 of 25  at  8/17/2022 8:20:50 PM  by

jerrykrause


Analog Devices Tops Estimates but Sees Impact to Bookings From Economic Uncertainty

 

Analog Devices Tops Estimates but Sees Impact to Bookings From Economic Uncertainty

 

Analog Devices fell Wednesday after the semiconductor company said that economic uncertainty was beginning to impact bookings.

Shares of the semiconductor company fell 4.3% Wednesday to $171.78. The stock has fallen 2.1% in 2022.

Analog Devices (ticker: ADI) reported adjusted earnings for its fiscal third quarter of $2.52 a share on revenue of $3.11 billion. Analysts surveyed by FactSet expected Analog Devices to report earnings of $2.43 a share on revenue of $3.06 billion. A year earlier, the company earned $1.72 a share on revenue of $1.76 billion.

For the fourth quarter, Analog Devices expects adjusted earnings of $2.57 a share plus or minus 10 cents on revenue of $3.15 billion, plus or minus $100 million. Analysts surveyed by FactSet forecast fourth-quarter earnings of $2.50 a share on revenue of $3.09 billion.

"While economic uncertainty is beginning to impact bookings, demand continues to outpace supply, resulting in higher backlog, paving the way for a strong finish to a banner year," Chief Executive Vincent Roche said in a press release.

 


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