Analog Devices Guides Q3 Above Estimates, Declares Dividend

(RTTNews) - While reporting financial results for the second quarter on Wednesday, semiconductor company Analog Devices Inc. (ADI) provided earnings and revenue guidance for the third quarter, above analysts' expectations.

For the third quarter, the company projects earnings in a range of $1.45 to $1.65 per share and adjusted earnings in a range of $2.32 to $2.52 per share on projected revenues between $2.95 billion and $3.15 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.16 per share on revenues of $2.89 billion for the quarter. Analysts' estimates typically exclude special items.

The company's Board of Directors also declared a quarterly cash dividend of $0.76 per outstanding share of common stock, payable on June 9, 2022 to all shareholders of record at the close of business on May 31, 2022.