Analog Devices Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Analog Devices (ADI) announced earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $392.232 million, or $0.79 per share. This compares with $877.019 million, or $1.74 per share, in last year's third quarter.

Excluding items, Analog Devices reported adjusted earnings of $1.58 per share for the period.

Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 24.8% to $2.312 billion from $3.076 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q3): $392.232 Mln. vs. $877.019 Mln. last year. -EPS (Q3): $0.79 vs. $1.74 last year. -Revenue (Q3): $2.312 Bln vs. $3.076 Bln last year.

-Guidance: Next quarter EPS guidance: $1.53 - $1.73 Next quarter revenue guidance: $2.39 - $2.41 Bln