Overview

• Analog Devices reported fiscal Q2 revenue of $2.64 billion, a 22% year-over-year increase, exceeding analysts' estimate of $2.51 billion.
• Earnings per share for Q2 reached $1.85, also surpassing Wall Street's projection of $1.70.
• The company forecast Q3 revenue between $2.65 billion and $2.85 billion, above consensus estimates of $2.62 billion.
• Projected Q3 adjusted EPS of $1.92, plus or minus $0.10, similarly topped analysts' expectations of $1.83.
• Shares rose 2.5% in premarket trading as major analysts, including Stifel and Citigroup, raised price targets following the strong results and guidance.