Analog Devices (ADI) reported earnings on Wed 31 May 2017 (b/o)

** charts after earnings **

 

Analog Devices beats by $0.19, reports revs in-line; guides Q3 EPS above consensus, revs above consensus :

• Reports Q2 (Apr) earnings of $1.03 per share, excluding non-recurring items, $0.19 better than the Capital IQ Consensus of $0.84; revenues rose 41.2% year/year to $1.1 bln vs the $1.1 bln Capital IQ Consensus.
  • GAAP gross margin of 55.8% of revenue; Non-GAAP gross margin of 69.3% of revenue
  • GAAP operating margin of 12.7% of revenue; Non-GAAP operating margin of 37.9% of revenue
• Co issues upside guidance for Q3, sees EPS of $1.07-1.21, excluding non-recurring items, vs. $1.04 Capital IQ Consensus Estimate; sees Q3 revs of $1.37-1.45 bln, excluding non-recurring items, vs. $1.36 bln Capital IQ Consensus Estimate.
• "The second quarter of 2017 was a period of significant success," said Vincent Roche, President and CEO. "Business conditions during the quarter were strong, and our results were above the high end of our revised guidance range led by broad-based strength, particularly in the industrial end market. In addition, we closed the acquisition of Linear Technology Corporation and are on track with our integration activities. This acquisition creates a high-performance analog industry powerhouse, and I am confident that we are well on our way to creating tremendous value for our customers, employees, and shareholders."