Analog Devices Expects Revenue to Slide More. Chip Stocks Still Face Headwinds.

📆 23/08/2023 19:05:00
📰 MarketWatch

⏱ Reading Time:
20 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The company's guidance missed analysts' expectations, as sales were hit by weakness in telecoms and consumer electronics.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analog Devices Stock Sinks on Weak Outlook. It’s Bad News for Chip Stocks.Analog Devices shares dropped on Wednesday after its quarterly guidance missed analysts' expectations. Other semiconductor companies with big industrial and...
Source: MarketWatch - 🏆 3. / 97 Read more »

Analog Devices stock slides as earnings fall short and company says it faces ‘near-term turbulence.’Analog Devices Inc. stock was down nearly 8% in premarket trades Wednesday after the chip maker’s adjusted third-quarter profit missed Wall Street estimates....
Source: MarketWatch - 🏆 3. / 97 Read more »