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Analog Devices (NASDAQ:ADI) +5.2% reports Q1 results that beat on earnings but narrowly missed on revenue.
For Q2, ADI sees revenue of $1.35B (consensus: $1.38B), plus or minus $50M, which was reduced by $70M to account for the potential coronavirus impact. At the revenue midpoint, the company expects operating margins of 37.5% (+/-100 bps) and EPS of $1.10 (+/-$0.08; consensus: $1.13).
Q1 revenue breakdown: Industrial, $684.9M (-7%); Communications, $239.9M (-31%); Auto, $205.3M (-16%); Consumer, $173.4M (-20%).
Gross margin was 68.5% compared to the 68.9% consensus. Operating margin was 36.9%, down from last year's 41.2%.
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