- Analog Devices (NASDAQ:ADI) -2.1% reports after Q3 beats with downside Q4 outlook with revenue of $1.44-1.46B (consensus: $1.5B) and EPS of $1.15-1.29 (consensus: $1.29).
- The company says the macro environment remains challenging with ongoing, broad-based weakness compared to last year's quarter. Management says "uncertain times do not seem to be abating in the near term."
- Revenue breakdown: Industrial, $752.5M (consensus: $753.7M); Auto, $227.7M (consensus: $241.1M); Consumer, $183.3M (consensus: $171.1M); Communications, $316.4M (consensus: $315.7M).
- Q3 adjusted gross margin was 70.4% versus the 70.7% estimate and 71.2% last year.
- Earnings call starts at 10 AM ET with a webcast here.
- Press release.