Analog Devices tops fiscal Q2 2022 earnings and revenue estimates

Analog Devices (NASDAQ: ADI) has announced its fiscal Q2 2022 financial results for the quarter ending April 30, 2022. The company reported revenue of $2.97 billion, beating consensus estimates of $2.84 billion. Earnings per share also topped estimates at $2.4 per share versus analyst estimates of $2.11 per share.

Analog Devices posts fifth consecutive quarterly record revenue

CEO and chair Vincent Roche said:

Despite the ever-growing geopolitical uncertainty and current supply chain disruptions, the company is entering the second half of the fiscal year from a solid position with enhanced capacity and growing momentum in bookings.

Roche continued:

Analog Devices reported double-digit QoQ growth in all B2B markets. The company increased stock repurchases to around $776 million and paid dividends of $398 million, returning around $1.17 billion to shareholders. The board declared a quarterly dividend of $0.76 per outstanding common share payable on June 9, 2022, to all shareholders that will be on record as of May 31, 2022.

Q3 revenue to range from $2.95 billion  and $3.15 billion

For the third quarter, the company expects revenue of between $2.95 billion and $3.15 billion, compared to consensus estimates of $2.89 billion. The company is anticipating earnings per share of between $2.32 and $2.52 in the third quarter, while analysts hold for $2.16 per share earnings. The third quarter forecasts are pegged on present expectations, with results likely to differ materially.

Roche concludes: