Press release
Analog Devices Reports Record Revenue and Earnings for the Third Quarter Fiscal 2021
Revenue of $1.76 billion, a new all-time high, with 21% year over year growth All end markets grew sequentially, underscored by record revenue in Industrial
About this update from Analog Devices, Inc.
[{"type":"text","content":"\n\nRevenue of $1.76 billion, a new all-time high, with 21% year over year growth\n\n\nAll end markets grew sequentially, underscored by record revenue in Industrial and Automotive\n\n\nOperating cash flow of $2.5 billion and free cash flow of $2.2 billion, or 34% of revenue, on a trailing twelve months basis\n\n\nReturned more than $400 million to shareholders in the third quarter through dividends and share repurchases\n\n\nNot included in the original third quarter outlook was $24 million of Automotive revenue and $0.05 of EPS, resulting from an IP licensing agreement\n\n\n WILMINGTON, Mass.--(BUSINESS WIRE)--\nAnalog Devices, Inc. (Nasdaq: ADI), a leading global high-performance semiconductor company, today announced financial results for its third quarter of fiscal 2021, which ended July 31, 2021.\n\n“ADI delivered record revenue and earnings for the second consecutive quarter with continued gross and operating margin expansion. All markets increased sequentially with our Industrial and Automotive segments once again achieving records,” said Vincent Roche, President and CEO. “Robust bookings across all end markets, combined with lean inventories and ongoing capacity additions will enable us to close this year on a high note and continue to grow into fiscal 2022.”\n\nRoche continued, “The economic recovery continues to take shape with demand still far exceeding supply, underscoring the importance of semiconductors across all industries. We continue to execute soundly, and I have never been more confident about the future of ADI’s franchise as our solutions become more vital in the modern digital age. Our ethos of innovation, deep customer engagements, and alignment with favorable secular growth drivers position us to deliver strong returns in the years to come.”\n\n\n\nPerformance for the Third Quarter of Fiscal 2021\n\n\n\n\n\nResults Summary(1)\n\n\n\n\n\n(in millions, except per-share amounts and percentages)\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n\nThree Months Ended\n\n\n\n\n\n \n\n\n\n\nJul. 31, 2021\n\n\n\n \n\n\n\nAug. 1, 2020\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nRevenue\n\n\n\n\n$\n\n\n\n1,759\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,456\n\n\n\n \n\n\n\n \n\n\n\n21\n\n\n\n%\n\n\n\n\n\nGross margin\n\n\n\n\n$\n\n\n\n1,221\n\n\n\n \n\n\n\n \n\n\n\n973\n\n\n\n \n\n\n\n \n\n\n\n25\n\n\n\...