Analog Devices (ADI) Reports Second Quarter Earnings: What Key Metrics Have to Say – May 22, 2024

For the quarter ended April 2024, Analog Devices (ADI – Free Report reported revenue of $2.16 billion, down 33.8% from the same period last year. EPS was $1.40 compared to $2.83 in the year-ago quarter.

Reported revenues are in line with the Zacks Consensus Estimate of $2.1 billion, representing a surprise of +2.60%. The company had an EPS surprise of +11.11%, with the consensus EPS estimate coming in at $1.26.

While investors closely monitor year-over-year changes in key numbers – revenue and earnings – and how they compare to Wall Street expectations to determine their next course of action, certain key metrics always provide greater insight into a company’s underlying performance.

Because these metrics impact financial performance and earnings, comparing them to year-ago numbers and analyst estimates helps investors more accurately predict stock price performance.

Here’s how Analog Devices performed in the just-reported quarter in terms of metrics most frequently monitored and predicted by Wall Street analysts:

• Revenue – Consumer: $245.18 million compared to the $232.26 million estimated by eight analysts on average. Compared to the previous year’s quarter, this number represents a change of 12.5%.
• Revenue – communication: $240.78 million compared to the $253.59 million estimated by eight analysts on average. Compared to the previous year’s quarter, this number represents a change of 46.9%.
• Revenues – automotive: $658.24 million compared to the $652.79 million estimated by the average of eight analysts. Compared to the previous year’s quarter, this number represents a change of 16.1%.
• Revenue – industry: $1.01 billion compared to eight analysts’ average estimate of $965.70 million. This figure represents a year-on-year change of -41.8%.

View all of the company’s key analog metrics here>>>

Analog Devices shares have rallied 14.1% over the past month, compared to a 7.3% move for the Zacks S&P 500 composite. The stock is currently sporting a Zacks Rank of #4 (Sell), which indicates that it could potentially underperform the broader market.

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