Analog Devices Beats On Q2 As Inventory Rationalization Takes Effect, CEO Predicts Cyclical Recovery And Growth In AI Investments

Analog Devices saw a 34% decline in revenue but still beat analyst estimates with an adjusted EPS of $1.40. CEO Vincent Roche is optimistic about a return to growth in the third quarter due to inventory stabilization and new orders. ADI expects third-quarter revenue of $2.27 billion and adjusted EPS of $1.50.