Analog Devices Q3 Profit Increases, beats estimates

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

The company's bottom line totaled $748.99 million, or $1.44 per share. This compares with $503.31 million, or $1.35 per share, in last year's third quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.52 per share for the period.

Analysts on average had expected the company to earn $2.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 76.7% to $3.11 billion from $1.76 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q3): $748.99 Mln. vs. $503.31 Mln. last year. -EPS (Q3): $1.44 vs. $1.35 last year. -Analyst Estimate: $2.43 -Revenue (Q3): $3.11 Bln vs. $1.76 Bln last year.

-Guidance: Next quarter EPS guidance: $2.47 - $2.67 Next quarter revenue guidance: $3.05 - $3.25 Bln