Revenue of $2.31 billion, above the midpoint of our outlook with sequential growth in Industrial, Consumer, and Communications
Operating cash flow of $4.0 billion and free cash flow of $2.9 billion on a trailing twelve-month basis
Returned $574 million to shareholders through dividends and repurchases in the third quarter
Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal third quarter of 2024, which ended August 3, 2024.
"ADI's revenue finished above our guided midpoint with stronger profitability driving earnings per share near the high end of our outlook," said Vincent Roche, CEO and Chair. "As we navigate this business cycle's nascent recovery, our high-performance analogue solutions portfolio positions us well to intersect the strong underlying stream of concurrent secular trends. Our innovation and customer-centric ethos will continue to form the foundation for our success and help drive long-term shareholder value."
"Improved customer inventory levels and order momentum, across most of our markets, position us to grow again sequentially in our fourth quarter, increasing our confidence that we are past the trough of this cycle. However, economic and geopolitical uncertainty continues to limit the pace of the recovery" said Richard Puccio, CFO.