ADI - Auto and industrial strength drive Analog Devices beats upside guidance

Analog Devices (ADI) reports fiscal Q2 beats with revenue up 26% on the year to $1.66B driven by record industrial and automotive sales. Adjusted EPS was $1.54, ahead of estimates by $0.09.Operating cash flow totaled $2.4B with FCF of $2.2B.“ADI delivered record quarterly results that exceeded the high end of our outlook, reflecting the insatiable demand for our products and disciplined operational execution. Revenue increased 26% and gross and operating margins continued to expand, leading to earnings growth of 43%,” says CEO Vincent Roche. “The economic recovery has materialized faster and stronger than initially anticipated, increasing pressure across supply chains globally. Our decision to strategically invest in additional capacity ahead of this demand inflection has enabled us to move with speed and agility to better serve our customers. These investments combined with continued momentum in bookings give us confidence that our second half will be stronger than the first half.”For fiscal Q3,

For further details see:

Auto and industrial strength drive Analog Devices beats, upside guidance