Press release
Analog Devices Reports Fourth Quarter and Fiscal 2024 Financial Results
Fourth quarter revenue of more than $2.4 billion, above the midpoint of guidance with sequential growth across all end marketsFiscal 2024 revenue of more than
About this update from Analog Devices, Inc.
[{"type":"text","content":"Fourth quarter revenue of more than $2.4 billion, above the midpoint of guidance with sequential growth across all end marketsFiscal 2024 revenue of more than $9.4 billionFiscal 2024 operating cash flow of $3.9 billion and free cash flow of $3.1 billionReturned more than $2.4 billion to shareholders in fiscal 2024, including $0.6 billion of share repurchases and $1.8 billion of dividendsWILMINGTON, Mass., Nov. 26, 2024 /PRNewswire/ -- Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal fourth quarter and fiscal year 2024, which ended November 2, 2024.\n\n \n \n \n \n \n \n\n \n\"ADI's revenue, profitability, and earnings per share all finished above our guided midpoint, underscoring continued business momentum and solid execution,\" said Vincent Roche, CEO and Chair. \"While unprecedented customer inventory headwinds drove a historic revenue decline during fiscal 2024, we maintained operating margins north of 40%, which is a testament to our business model's resilience. We also continued to make strategic, long-term investments across engineering, manufacturing, and the end-to-end customer experience. As such, we enter 2025 as an even stronger enterprise, giving me the utmost confidence in our ability to drive increased value for customers and shareholders over the long term.\"\n\"After a brief decline in overall bookings during our third quarter, orders picked up steadily throughout the fourth quarter, particularly in the Automotive end market. While macro uncertainty continues to limit the pace of our recovery, we remain cautiously optimistic for a strong growth year in fiscal 2025,\" said Richard Puccio, CFO.\nPerformance for the Fourth Quarter and Fiscal Year 2024\nResults Summary(1)\n(in millions, except per-share amounts and percentages)\nThree Months Ended\nTwelve Months Ended\nNov. 2, 2024\nOct. 28, 2023\nChange\nNov. 2, 2024\nOct. 28, 2023\nChange\nRevenue\n$ 2,443\n$ 2,716\n(10) %\n$ 9,427\n$ 12,306\n(23) %\nGross margin\n$ 1,416\n$ 1,647\n(14) %\n$ 5,381\n$ 7,877\n(32) %\nGross margin percentage\n58.0 %\n60.6 %\n(260 bps)\n57.1 %\n64.0 %\n(690 bps)\nOperating income\n$ 569\n$ 634\n(10) %\n$ 2,033\n$ 3,823\n(47) %\nOperating margin \n23.3 %\n23.4 %\n(10 bps)\n21.6 %\n31.1 %\n(950 bps)\nDiluted earnings per share\n$ 0.96\n$ 1.00\n(4) %\n$ 3.28\n$ 6.55\n(50)...