Chipmaker Analog Devices, Inc. (ADI) reported net income for the second quarter of $164.5 million or $0.52 per share, compared to $162.9 million or $0.53 per share for the year-ago quarter.
Excluding items, adjusted earnings for the latest quarter were $0.52 per share.
Revenue for the second quarter fell to $659.25 million from $675.09 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.52 per share on revenue of $660.84 million for the second quarter.
Looking forward to the third quarter, the company forecast revenue of $655 million to $685 million and earnings of $0.51 to $0.56 per share. Analysts currently expect the company to earn $0.58 per share on revenue of $688.33 million for the third quarter.
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