Analog Devices (ADI.US) reported third-quarter results on Wednesday that exceeded analyst expectations. Q3 revenue reached $2.88 billion, up 24.7% year-over-year, surpassing analyst estimates of $2.77 billion. Adjusted earnings per share came in at $2.05, beating market expectations of $1.95.

The chip manufacturer benefited from robust demand growth in its industrial sector, achieving strong order booking trends and backlog growth as manufacturers accelerated shipments in anticipation of potential changes in U.S. tariff policies. The industrial segment, which accounts for 45% of the company's total sales, grew 23% in the third quarter to reach $1.29 billion in revenue.

CEO Vincent Roche commented: "We continued to see order growth and strong booking trends as we concluded the third quarter, with particularly outstanding performance in the industrial markets. Despite market uncertainties caused by tariff and trade volatility, demand for Analog Devices products remains robust. The company's relentless pursuit of cutting-edge innovation enables us to capture growth opportunities in the intelligent edge of the physical world. Additionally, our diversified and resilient business model allows Analog Devices to navigate various market conditions while consistently creating long-term value for shareholders."

Analog Devices provided fourth-quarter revenue and earnings guidance that exceeded analyst expectations, as the company anticipates stable market demand for its products despite tariff uncertainties. According to data compiled by LSEG, the company forecasts fourth-quarter revenue of $3.0 billion, plus or minus $100 million, above analyst estimates of $2.82 billion. The company expects adjusted fourth-quarter earnings per share of $2.22, plus or minus $0.10, surpassing analyst estimates of $2.03.

Additionally, the company announced a quarterly dividend of $0.99 per share, which will be paid to shareholders of record as of September 2, with payment scheduled for September 16.