US semiconductor maker Analog Devices more than doubled its net income in the first quarter of fiscal 2026, while adjusted earnings and revenue beat forecasts.
According to the company’s press release, its net income for the quarter ended February 1 was $830.826 million, or $1.69 per share, compared to $391.3 million, or $0.78 per share, for the comparable period a year earlier. Adjusted earnings rose to $2.46 from $1.63 per share.
Revenue jumped 30% to $3.16bn.
Analysts surveyed by FactSet on average estimated the company’s adjusted earnings at $2.31 per share on revenue of $3.12 billion. The company itself three months ago gave a forecast, according to which adjusted earnings are expected to be about $2.19-2.39 per share, revenue – $3-3.2 billion.
For the second fiscal quarter, Analog Devices expects revenue in the range of $3.4 billion to $3.6 billion, with adjusted earnings of $2.73-3.03 per paper. Experts forecast $3.23 billion and $2.31, respectively.
The company returned $1bn to shareholders last quarter in the form of dividend payments and share repurchases.
The board of directors declared a quarterly dividend of $1.1 per share on March 17. The closing of the shareholder register is scheduled for 3 March.
Analog Devices’ stock price was virtually unchanged at the end of the extra session on Wednesday. Over the past three months, the market value of the company increased by almost 54% (to $ 165 billion), while the stock index Nasdaq Composite during this time added less than 1%.
Analog Devices specialises in the production of microchips responsible for signal processing and used in consumer electronics, automotive and other industries.