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Analog Devices Rises on Strong First-Quarter Beat

Tony Owusu

The company ended the quarter with a net profit of $355 million, or $1.33 a share on an adjusted basis. Analysts polled by Zacks Investment Research were expecting the company to report earnings of $1.28. "In what is a challenging macroeconomic environment, the diversity and strong execution of our franchise continued to deliver outstanding financial results for the first quarter," said Vincent Roche, president and CEO.