Investing.com - Analog Devices (NASDAQ:ADI) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Analog Devices announced earnings per share of $1.94 on revenue of $2.68B. Analysts polled by Investing.com anticipated EPS of $1.79 on revenue of $2.61B.
Analog Devices shares are down 11% from the beginning of the year and are trading at $165.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 6.19% from the start of the year.
Analog Devices shares gained 1.83% in pre-market trade following the report.
Analog Devices follows other major Information Technology sector earnings this month
Analog Devices's report follows an earnings beat by Apple on Thursday, January 27, 2022, who reported EPS of $2.1 on revenue of $123.95B, compared to forecasts EPS of $1.9 on revenue of $119B.
Microsoft had beat expectations on Tuesday, January 25, 2022 with second quarter EPS of $2.48 on revenue of $51.73B, compared to forecast for EPS of $2.32 on revenue of $50.74B.
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