Analog chip maker Analog Devices (ADI) this afternoon reported fiscal Q1 revenue and profit per share below analysts’ estimates, and forecast the current quarter’s results to fall short as well.
Revenue in the three months ended February 4th fell 11%, year over year, and 7%, quarter to quarter, to $648 million, yielding EPS of 46 cents a share.
Analysts had been modeling $662 million and 48 cents a share.
For the current quarter, the company sees revenue in a range of $655 million to $675 million, and EPS in a range of 48 cents to 53 cents. Analysts have been modeling $683 million in revenue and 54 cents a share.
ADI stock was down 83 cents, or 2%, at $38.99 in late trading.
ADI management will host a conference call with analysts at 5 pm, Eastern time, this evening, and you can catch the webcast of it here.
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