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Analog Devices First Quarter 2024 Earnings: EPS Beats Expectations

Analog Devices (NASDAQ:ADI) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$2.51b (down 23% from 1Q 2023).

  • Net income: US$462.7m (down 52% from 1Q 2023).

  • Profit margin: 18% (down from 30% in 1Q 2023). The decrease in margin was driven by lower revenue.

  • EPS: US$0.93 (down from US$1.90 in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Analog Devices EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.6%.

Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in the US.

Performance of the American Semiconductor industry.

The company's shares are up 2.3% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Analog Devices, and understanding this should be part of your investment process.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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