Analog Devices Q1 Profit Decreases, but beats estimates

(RTTNews) - Analog Devices (ADI) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $280.08 million, or $0.53 per share. This compares with $388.52 million, or $1.04 per share, in last year's first quarter.

Excluding items, Analog Devices reported adjusted earnings of $1.94 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 71.8% to $2.68 billion from $1.56 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q1): $280.08 Mln. vs. $388.52 Mln. last year. -EPS (Q1): $0.53 vs. $1.04 last year. -Analyst Estimates: $1.78 -Revenue (Q1): $2.68 Bln vs. $1.56 Bln last year.

-Guidance: Next quarter EPS guidance: $1.97 - $2.17 Next quarter revenue guidance: $2.70 - $2.90 Bln