Analog Devices Shares Surge 5% on Q4 Beat & Strong Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/ADI'>Analog Devices (NASDAQ:ADI)</a> shares closed more than 5% higher on Tuesday following the company’s reported Q4 results, with EPS of $2.73 coming in better than the Street estimate of $2.58. Revenue was $3.25 billion, beating the Street estimate of $3.16 billion.</p>
<p>With Q4 results, the company seemingly reversed course from the concerns it mentioned last quarter (it was the first to flag an uptick in cancellations), now highlighting that order trends stabilized in the second half of Q4 through early Q1. While this stabilization in bookings is positive, such a reversal from last quarter diverges from peer reports and macro data points, and may likely yield some skepticism from investors.</p>
<p>The company expects Q1/23 EPS to be in the range of $2.50-$2.70, compared to the Street estimate of $2.41, and revenue in the range of $3.05-3.25 billion, compared to the Street estimate of $3.04 billion.</p>

NASDAQ:ADI