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Analog Devices beats on earnings, but stock falls

·1 min read
Analog Devices beats on earnings, but stock falls

Shares of Analog Devices Inc. were down 2.8% in premarket trading Wednesday after the semiconductor company topped expectations with its latest results while citing strong demand but acknowledging that macroeconomic uncertainty had begun to affect bookings. The company posted net income of $749 million, or $1.44 a share, compared with $503 million, or $1.35 a share, in the year-prior period. After adjustments, Analog Devices earned $2.52 a share, up from $1.72 a year before, while analysts were