Analog Devices forecasts quarterly revenue above estimates-February 2024-www.financetom.com

Analog Devices forecasts quarterly revenue above estimates

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Analog Devices forecasts quarterly revenue above estimates

May 22, 2024 4:21 AM

(Reuters) - Analog Devices ( ADI ) 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.

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