07:27 AM EDT, 08/21/2024 (MT Newswires) -- Analog Devices ( ADI ) reported fiscal Q3 adjusted earnings Wednesday of $1.58 per diluted share, down from $2.49 a year earlier.

Analysts polled by Capital IQ expected $1.51.

Revenue for the quarter ended Aug. 3 was $2.31 billion, compared with $3.08 billion a year earlier.

Analysts surveyed by Capital IQ estimated $2.27 billion.

For fiscal Q4, Analog Devices ( ADI ) said it expects adjusted EPS of $1.63 plus or minus $0.10. Revenue for the fiscal quarter is projected to be $2.4 billion, plus or minus $100 million.

Analysts polled by Capital IQ estimate $1.63 in adjusted EPS on revenue of $2.38 billion.

The company maintained a quarterly dividend of $0.92 per common share, payable Sept. 17 to shareholders on record as of Sept. 3.

Shares of Analog Devices ( ADI ) were up over 4% in Wednesday premarket activity.

Price: 234.02, Change: +10.53, Percent Change: +4.71