Analog Devices Q2 Profit Increases, beats estimates

(RTTNews) - Analog Devices (ADI) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $977.66 million, or $1.92 per share. This compares with $783.27 million, or $1.49 per share, in last year's second quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.83 per share for the period.

Analysts on average had expected the company to earn $2.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.8% to $3.26 billion from $2.97 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q2): $977.66 Mln. vs. $783.27 Mln. last year. -EPS (Q2): $1.92 vs. $1.49 last year. -Analyst Estimate: $2.75 -Revenue (Q2): $3.26 Bln vs. $2.97 Bln last year.