Analog Devices sees strong second-quarter as AI boom fuels chip sales

Reuters
02/18
Analog Devices sees strong second-quarter as AI boom fuels chip sales

Feb 18 (Reuters) - Analog Devices ADI.O On Wednesday, forecast second-quarter results above Wall Street estimates, driven by robust demand from industrial and data center customers as the artificial intelligence boom continues to drive semiconductor sales.

Shares of Wilmington, Massachusetts-based chipmaker rose nearly 8% in premarket trading.

The company forecast second-quarter revenue of $3.5 billion, plus or minus $100 million, compared with the analysts' average estimate of $3.23 billion, according to LSEG data.

Surging investment in data center infrastructure for generative AI workloads is helping offset a challenging macroeconomic and geopolitical backdrop, supporting demand for Analog Devices' semiconductors as hyperscalers expand capacity.

"While the macro and geopolitical backdrop remains challenging, our revenue outlook for the second quarter reflects a new high-watermark for ADI, underscoring our strong execution against cyclical and secular growth tailwinds," Analog Devices CFO Richard Puccio said.

The chipmaker forecast adjusted earnings of $2.88 per share, plus or minus 15 cents, compared with the analyst consensus of $2.31 per share.

First-quarter revenue came in at $3.16 billion, topping estimates of $3.12 billion.

(Reporting by Kritika Lamba in Bengaluru; Editing by Tasim Zahid)

((Kritika.Lamba@thomsonreuters.com;))

应版权方要求,你需要登录查看该内容

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10