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By Dave Sebastian
Analog Devices Inc. said its profit for the fiscal second quarter rose along with economic recovery and as it navigated supply-chain challenges.
The semiconductor company on Wednesday posted net income of $422.9 million, compared with $267.7 million in the prior year. Earnings were $1.14 a share, compared with 72 cents a share in the year-ago period.
Adjusted earnings were $1.54 a share. Analysts polled by FactSet were expecting $1.45 a share.
For the quarter ended May 1, revenue rose 26%, to $1.66 billion. Analysts were looking for $1.61 billion.
The company s decision to invest in additional capacity has helped it navigate supply-chain challenges, President and Chief Executive Vincent Roche said. ....

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