Analog Devices Q1 Profit Increases, beats estimates

Analog Devices (ADI) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $961.47 million, or $1.88 per share. This compares with $280.08 million, or $0.53 per share, in last year's first quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.75 per share for the period.

Analysts on average had expected the company to earn $2.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.3% to $3.25 billion from $2.68 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q1): $961.47 Mln. vs. $280.08 Mln. last year.
-EPS (Q1): $1.88 vs. $0.53 last year.
-Analyst Estimate: $2.60
-Revenue (Q1): $3.25 Bln vs. $2.68 Bln last year.

Next quarter EPS guidance: $2.65 - $2.85
Next quarter revenue guidance: $3.10 - $3.30 Bln

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