Analog Devices reported stellar fiscal first quarter earnings results, citing strong demand in the industrial sector.

The company posted adjusted earnings per share of $2.75 for the January quarter, topping the consensus estimate of $2.61 among Wall Street analysts tracked by FactSet. Revenue came in at $3.25 billion, above analysts' expectations of $3.15 billion.

Management's financial outlook was also upbeat. Analog Devices (ticker: ADI) forecast a range of potential revenue for the current quarter with a midpoint of $3.2 billion, compared with the consensus view that revenue will be $3.03 billion.

"Encouragingly, despite the macro uncertainty, demand remains resilient in our Industrial and Automotive markets," CEO Vincent Roche said in a news release.

In an phone interview with Barron's, Chief Financial Officer Prashanth Mahendra-Rajah said Analog Devices saw upside in the industrial sector because the chip maker's products have leadership positions in the market and are riding key secular growth trends such as automation. The executive also said Europe did better than expected for the fiscal first quarter, while China was weaker.

Analog Devices sells a broad-based portfolio of chips that go into products in nearly every sector and industry. The company has more than 125,000 customers and is considered a bellwether for the technology and the economy.

Analog Devices stock has risen 19% over the past 12 months, versus the 7% drop in the iShares Semiconductor ETF (SOXX), which tracks the performance of the ICE Semiconductor Index.