- In addition to beating FQ1 estimates, Analog Devices (NASDAQ:ADI) is guiding for FQ2 revenue of $810M-$830M and EPS of $0.70-$0.74, above a consensus of $806.8M and $0.69. With shares having risen 3.1% in regular trading to make fresh highs, some good news was priced in.
- FQ1 gross margin was 65.6%, -80 bps Q/Q and +50 bps Y/Y, and above guidance of 65%. GM is expected to rise to 66.5% in FQ2. Operating expenses fell to 34.2% of revenue from 36.1% a year ago, and $59.6M was spent on buybacks.
- Thanks to both 4G base station chip demand and the Hittite acquisition, Communications chip revenue rose 45% Y/Y to $203.7M. Industrial +21% to $349.8M (smaller Hittite boost); Consumer +27% to $94.8M; auto -1% to $123.7M.
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ADI -1.7% AH to $57.80.
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FQ1 results, dividend hike, PR