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WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Analog Devices Inc. (ADI) on Thursday reported fiscal second-quarter earnings of $569.8 million.
The Wilmington, Massachusetts-based company said it had profit of $1.14 per share. Earnings, adjusted for one-time gains and costs, came to $1.85 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.69 per share.
The semiconductor maker posted revenue of $2.64 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $2.5 billion.
For the current quarter ending in July, Analog Devices expects its per-share earnings to range from $1.82 to $2.02.
The company said it expects revenue in the range of $2.65 billion to $2.85 billion for the fiscal third quarter.
Analog Devices shares have climbed roughly 5% since the beginning of the year, while the S&P's 500 index has fallen roughly 1%. The stock has increased roughly 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADI at https://www.zacks.com/ap/ADI