Press release
Analog Devices Reports Record Revenue for the Second Quarter Fiscal 2023
Revenue of $3.26 billion increased 10% year-over-year, led by another quarter of record results in Industrial and Automotive Operating cash flow of $4.9
About this update from Analog Devices, Inc.
[{"type":"text","content":"\n\nRevenue of $3.26 billion increased 10% year-over-year, led by another quarter of record results in Industrial and Automotive\n\n\n\nOperating cash flow of $4.9 billion and free cash flow of $4.0 billion on a trailing twelve-month basis\n\n\n\nReturned $1.5 billion to shareholders through $1.1 billion of share repurchases and $0.4 billion of dividends during the second quarter\n\n\n\n WILMINGTON, Mass.--(BUSINESS WIRE)--\nAnalog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its second quarter fiscal year 2023, which ended April 29, 2023.\n\n\n“ADI continued to execute well in the second quarter with revenue growth for the thirteenth consecutive quarter and record earnings per share,” said Vincent Roche, CEO and Chair. “Looking to the second half, we expect revenue to moderate given the continued economic uncertainty and normalizing supply chains. However, I am confident in ADI’s ability to navigate short-term business cycles due to the strength and diversity of our franchise, our hybrid manufacturing model, and alignment to secular growth trends.”\n\n\nRoche continued, “Longer term, the center of gravity for data processing is shifting from the cloud to the edge, thanks to emerging applications that include Industry 4.0, Smart Energy Systems, Electric Vehicles, Advanced Connectivity, and Immersive Consumer. ADI’s alignment with these applications, where semiconductor content per dollar of capex is increasing, presents tremendous growth opportunities. I am excited for what our future holds as we continue to deliver breakthrough solutions at the Intelligent Edge for our customers.”\n\n\n\n\nPerformance for the Second Quarter of Fiscal 2023\n\n\n\n\n\n\n\n\nResults Summary(1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(in millions, except per-share amounts and percentages)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nApr. 29, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nApr. 30, 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$\n\n\n\n\n\n\n3,263\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\n2,972...