Analog Devices Q2 Profit Increases, Beats Estimates

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

The company's earnings totaled $569.77 million, or $1.14 per share. This compares with $302.24 million, or $0.61 per share, last year.

Excluding items, Analog Devices reported adjusted earnings of $1.85 per share for the period.

Analysts on average had expected the company to earn $1.70 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 22.3% to $2.640 billion from $2.159 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings: $569.77 Mln. vs. $302.24 Mln. last year. -EPS: $1.14 vs. $0.61 last year. -Revenue: $2.640 Bln vs. $2.159 Bln last year.

-Guidance: Next quarter EPS guidance: $1.82 $2.02 Next quarter revenue guidance: $2.65 - $2.85 Bln