Analog Devices Shares Surge 7% on Q1 Beat & Strong Guidance 
<p><a href='https://financialmodelingprep.com/financial-summary/ADI'>Analog Devices (NASDAQ:ADI)</a> shares gained more than 7% on Wednesday after the company reported its Q1 results, with EPS of $2.75 coming in better than the Street estimate of $2.61. Revenue of $3.25 billion beat the Street estimate of $3.15 billion. </p>
<p>While lead times have shortened for much of the portfolio and longer-term cancellations have risen, the company cited still-strong demand in its core end markets of Industrial and Automotive and resumed its more bullish tone that it adopted on its November earnings call.</p>
<p>For Q2, the company expects EPS in the range of $2.65-$2.85, compared to the Street estimate of $2.42. Q2 revenue is seen at $3.1-3.3 billion, beating the Street estimate of $3.03 billion, once again bucking the trend of its competitors which almost universally guided below Street expectations this earnings season.</p>

NASDAQ:ADI