Analog Devices Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Analog Devices (ADI) released a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $391.32 million, or $0.78 per share. This compares with $462.73 million, or $0.93 per share, last year.

Excluding items, Analog Devices reported adjusted earnings of $1.63 per share for the period.

Analysts on average had expected the company to earn $1.54 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 3.5% to $2.423 billion from $2.512 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings: $391.32 Mln. vs. $462.73 Mln. last year. -EPS: $0.78 vs. $0.93 last year. -Revenue: $2.423 Bln vs. $2.512 Bln last year.

-Guidance: Next quarter EPS guidance: $1.58 - $1.78 Next quarter revenue guidance: $2.40 - $2.60 Bln