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Analog Devices' Q3 Results Falter, Margins Shrink - CEO Cites Inventory Adjustments Amid Economic Shifts

Analog Devices, Inc (NASDAQ: ADI) reported a third-quarter FY23 revenue decline of 1% year-on-year to $3.08 billion, missing the consensus of $3.10 billion. Adjusted EPS of $2.49 missed the consensus of $2.52. Analog Devices' Industrial revenue grew 4% Y/Y to $1.63 billion. Automotive revenue increased 15% Y/Y to $747.6 million. Communications revenue declined by 23% to $380.5 million, and Consumer revenue decreased by 21% to $319.2 million. The adjusted gross margin declined by 190 bps to ...
Vincent Roche Analog Devices Inc Analog Devices Benzinga Pro Margins Shrink Inventory Adjustments Amid Economic Shifts
Source: yahoo.com

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