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Analog Devices (ADI) Reports Q2 Earnings: What Key Metrics Have to Say

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For the quarter ended April 2024, Analog Devices (ADI - Free Report) reported revenue of $2.16 billion, down 33.8% over the same period last year. EPS came in at $1.40, compared to $2.83 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $2.1 billion, representing a surprise of +2.60%. The company delivered an EPS surprise of +11.11%, with the consensus EPS estimate being $1.26.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Analog Devices performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Consumer: $245.18 million versus $232.26 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
  • Revenue- Communications: $240.78 million versus $253.59 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -46.9% change.
  • Revenue- Automotive: $658.24 million versus $652.79 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -16.1% change.
  • Revenue- Industrial: $1.01 billion versus the eight-analyst average estimate of $965.70 million. The reported number represents a year-over-year change of -41.8%.
View all Key Company Metrics for Analog Devices here>>>

Shares of Analog Devices have returned +14.1% over the past month versus the Zacks S&P 500 composite's +7.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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