Analog Devices' Q2 net income dropped to $302.2m from $977.7m, but improved sequentially; CEO Vincent Roche attributes recovery to inventory rationalization and new orders.
Analog Devices reported Q2 net income of $302.2m, a drop from $977.7m in the previous year, but higher than expected. The company expects a sequential growth path in Q3, predicting revenue of $2.27bn and an adjusted EPS of $1.50. CEO Vincent Roche attributes this to inventory rationalization and improving new orders, indicating a cyclical recovery is underway.
May 22, 2024
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