Analog Devices (ADI) reported earnings on Wed 5/18/16 (b/o)

** charts before earnings **

 

** charts after earnings **

 

Analog Devices beats by $0.02, reports revs in-line; guides Q3 EPS midpoint below consensus, revs below consensus :

• Reports Q2 (Apr) earnings of $0.64 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.62; revenues fell 5.1% year/year to $778.8 mln vs the $777.65 mln Capital IQ Consensus.
• Co issues downside guidance for Q3, sees EPS of $0.66-0.74, excluding non-recurring items, vs. $0.74 Capital IQ Consensus Estimate; sees Q3 revs of $800-840 mln vs. $840.44 mln Capital IQ Consensus Estimate.
• "Looking ahead, stable order flows in the B2B markets lead us to plan for a largely seasonal third quarter in these markets, and for sequential revenue growth to resume in the consumer market. Importantly for ADI, we expect our B2B markets, in the aggregate, to grow in the mid-to-high single digits on a year-over-year basis in the third quarter."