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HomeBusinessAnalog Devices’ Upcoming Q2 Earnings Preview

Analog Devices’ Upcoming Q2 Earnings Preview

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RBC Capital analysts provided their outlook on Analog Devices (NASDAQ:ADI) ahead of the upcoming Q2 earnings, scheduled on May 24.
The analysts see an in-line setup to Q2 Street sales/EPS estimates of $3.2 billion/$2.75 but stand cautious on Q3 as semi correction progresses.
Counter to peers, management posted beat/raise results led by auto/industrial. Industrial (52% of total revenue) was up 26% year-over-year in Q1 led by automation, sustainable energy, instrumentation, and test. Auto (22% of total revenues) up 30% year-over-year in Q1. According to the analysts, Q2 is expected up slightly.

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