Analog Devices forecasts quarterly revenue above estimates

By Thomson Reuters May 22, 2024 | 6:05 AM

(Reuters) – Analog Devices forecast third-quarter revenue above Wall Street expectations on Wednesday, helped by a rise in demand for its automotive and industrial chips after a prolonged slump.

The company expects revenue of $2.27 billion, plus or minus $100 million, compared with estimates of $2.16 billion, according to LSEG data.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Vijay Kishore)