Analog Devices said Wednesday that weaker demand from telecommunications companies and consumer electronics makers was hitting its chip sales.
Analog Devices was expected to report earnings of $2.52 a share on revenue of $3.10 billion according to a FactSet poll of analysts’ estimates. The company’s quarterly revenue was down 1% from the same period a year ago. Revenue in its biggest markets, the industrial and automotive sectors, rose. However, it was hit by sharp falls in sales of chips for communications and consumer devices.
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