Analog Devices Shares Drop 5% Despite Q3 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/ADI'>Analog Devices, Inc. (NASDAQ:ADI)</a> shares dropped around 5% on Wednesday following the company’s reported Q3 results. While both EPS of $2.52 and revenue of $3.1 billion came in better than the Street estimate of $2.43 and $3.05 billion, respectively, management’s commentary on a number of slightly weakening metrics rapidly dominated the Q&A in its earnings call and the resulting share price reaction.</p>
<p>Specifically, comments on slowing bookings, slightly rising cancellations, and a B2B that fell quarter-over-quarter overshadowed management embedding these factors into a more cautious Q4 guide.</p>
<p>The company expects Q4/22 EPS in the range of $2.47-$2.67, compared to the consensus of $2.50, and revenue in the range of $3.05-3.25 billion, compared to the consensus of $3.11 billion.</p>

NASDAQ:ADI