Chipmaker Analog Devices beats second-quarter revenue estimates

Reuters

05-22

Chipmaker Analog Devices beats second-quarter revenue estimates

May 22 (Reuters) - Analog Devices ADI.O beat Wall Street expectations for quarterly revenue on Thursday, driven by upbeat demand for its chips used in the automotive and industrial sectors.

The Wilmington, Massachusetts-based chipmaker said its second-quarter revenue rose 22% to $2.64 billion, beating analysts' estimate of $2.51 billion, according to data compiled by LSEG.

(Reporting by Meghana Khare in Bengaluru; Editing by Leroy Leo)

((Meghana.Khare@thomsonreuters.com;))

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