Analog Devices Q2 Profit Increases, beats estimates

(RTTNews) - Analog Devices (ADI) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $783.27 million, or $1.49 per share. This compares with $422.91 million, or $1.14 per share, in last year's second quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.40 per share for the period.

Analysts on average had expected the company to earn $2.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 78.9% to $2.97 billion from $1.66 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q2): $783.27 Mln. vs. $422.91 Mln. last year. -EPS (Q2): $1.49 vs. $1.14 last year. -Analyst Estimate: $2.11 -Revenue (Q2): $2.97 Bln vs. $1.66 Bln last year.

-Guidance: Next quarter EPS guidance: $2.32 - $2.52 Next quarter revenue guidance: $2.95 - $3.15 Bln