Analog Devices 2Q Profit Rose on Higher Sales, Lower Expenses
24 Maio 2023 - 9:16AM
Dow Jones News
By Jeffrey T. Lewis
Analog Devices saw its profit rise in its second quarter after
expenses declined and sales growth outpaced an increase in
costs.
The Wilmington, Mass.-based semiconductor maker reported net
income of $977.7 million, compared with $783.3 million a year
earlier. Earnings per share rose to $1.92 from $1.49 and adjusted
earnings per share rose to $2.83 from $2.40. Revenue increased to
$3.26 billion from $2.97 billion.
Sales outperformed while profit fell short of market
expectations. The consensus of analysts compiled by FactSet was for
revenue of $3.21 billion and net income of $1.4 billion.
Cost of sales rose to $1.12 billion from $1.03 billion. Total
operating expenses declined to $1.02 billion from $1.03
billion.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
May 24, 2023 08:01 ET (12:01 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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