Analog Devices Q3 Results Top Estimates

(RTTNews) - Analog Devices, Inc. (ADI) reported net income for the third quarter of $176.2 million or $0.56 per share, compared to $169.8 million or $0.56 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $0.57 per share.

Revenue for the third quarter fell to $674.17 million from $683.03 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.54 per share on revenue of $671.79 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue of $675 million to $700 million and earnings of $0.55 to $0.61 per share. Analysts currently expect the company to earn $0.59 per share on revenue of $697.22 million for the fourth quarter.