Press release
Analog Devices Reports Record First Quarter Fiscal 2023 Results
Revenue of $3.25 billion with double-digit year-over-year growth across all B2B markets and record Industrial and Automotive revenue Operating cash flow of
About this update from Analog Devices, Inc.
[{"type":"text","content":"\n\nRevenue of $3.25 billion with double-digit year-over-year growth across all B2B markets and record Industrial and Automotive revenue\n\n\nOperating cash flow of $5.0 billion and free cash flow of $4.3 billion on a trailing twelve-month basis\n\n\nReturned over $1 billion to shareholders through dividends and repurchases in the first quarter\n\n\nRaised quarterly dividend by 13%, marking our fifth consecutive double-digit increase\n\n\n WILMINGTON, Mass.--(BUSINESS WIRE)--\nAnalog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its first quarter fiscal year 2023, which ended January 28, 2023.\n\n“ADI continues to execute exceptionally well with revenue growth of 21% year-over-year and record earnings per share,” said Vincent Roche, CEO and Chair. “Encouragingly, despite the macro uncertainty, demand remains resilient in our Industrial and Automotive markets, driven by continued momentum across secular growth areas, such as automation and electrification.”\n\nRoche continued, “Looking ahead, pervasive sensing, AI-driven edge computing, and ubiquitous connectivity are enabling new capabilities, applications, and markets at the Intelligent Edge. ADI, the bridge between the physical and digital worlds, is well-positioned to deliver breakthrough innovations that positively impact society and unlock long-term value for all stakeholders.”\n\n\n\n\n\n\n\n \n\n\n\nPerformance for the First Quarter of Fiscal 2023\n\n\n\n\n\n\n \n\n\n\nResults Summary(1)\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n(in millions, except per-share amounts and percentages)\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n\n\n \n\n\n\nJan. 28, 2023\n\n\n\n \n\n\n\nJan. 29, 2022\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n3,250\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2,684\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n21\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n$\n\n\n\n2,124\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,402\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n51\n\n\n\n%\n\n\n\n\n\nGross margin percentage\n\n\n\n \n\n\n\n65.4\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n52.2\n\n\n\n%\n\n\n\n \n\n\n\n1,320 bps\n\n\n\n\n\nOperating income\n\n\n\n$\n\n\n\n1,131\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n365\n\n\n\n \n\n\n\n \n\n\n\n \n\n\...