On Wednesday, Analog Devices projected fourth-quarter revenue that would exceed analyst expectations. The company stated that despite tariff uncertainties, demand for its products remains stable.

The chip manufacturer is benefiting from growing demand in the industrial sector, with favorable order trends and increasing order backlogs. This is attributed to manufacturers accelerating shipments amid evolving U.S. tariff policies.

The Wilmington, Massachusetts-based company saw its stock price rise approximately 4% in pre-market trading.

According to data compiled by LSEG (London Stock Exchange Group), the company expects fourth-quarter revenue of $3 billion (plus or minus $100 million), surpassing analyst expectations of $2.82 billion.

On an adjusted basis, the company anticipates fourth-quarter earnings per share of $2.22 (plus or minus 10 cents), exceeding analyst expectations of $2.03.

Chief Executive Officer Vincent Roche stated: "We ended the third quarter with continued backlog growth and favorable order trends, particularly in industrial end markets."

In the third quarter, industrial segment revenue, which accounts for 45% of total company sales, grew 23% to $1.29 billion.

The industrial division focuses on providing advanced semiconductor solutions that power automation, sensing, and control systems across various industries.

Third-quarter automotive segment sales increased 22% to $850.6 million.

The company reported third-quarter revenue of $2.88 billion, above analyst expectations of $2.77 billion.