07:26 AM EDT, 05/22/2024 (MT Newswires) -- Analog Devices ( ADI ) reported fiscal Q2 adjusted earnings Wednesday of $1.40 per diluted share, down from $2.83 a year earlier.

Analysts polled by Capital IQ expected $1.27.

Revenue for the fiscal quarter ended May 4 was $2.16 billion, down from $3.26 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.11 billion.

Shares of the US-based semiconductor company were up more than 6% in recent Wednesday premarket activity.

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