Chipmaker Analog Devices (ADI) announced a second-quarter profit and revenue forecast below estimates on Wednesday, attributing the outlook to uncertain demand in the industrial and automotive sectors.<\/p>\n\n\n\n
This projection comes on the heels of a weak forecast from Texas Instruments (TXN) last month, reflecting broader challenges within the chip industry. As businesses clear excess inventory accumulated during the pandemic-induced demand surge, uncertainty prevails.<\/p>\n\n\n\n
CEO Vincent Roche expressed expectations for customer inventory stabilization in the second quarter, anticipating a more favorable business environment in the latter half of the year.<\/p>\n\n\n\n
Analog Devices anticipates second-quarter revenue of $2.10 billion, plus or minus $100 million, falling short of analysts’ average estimate of $2.36 billion. Adjusted profit per share is projected to be $1.26, plus or minus 10 cents, below estimates of $1.56.<\/p>\n\n\n\n
The company’s industrial unit, constituting nearly 50% of revenue, experienced a 31% decline in the first quarter due to ongoing supply imbalances. Growth in the automotive sector also decelerated to a near-two-year low of 9%, influenced by reduced chip orders amidst high interest rates affecting vehicle demand.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chipmaker Analog Devices (ADI) announced a second-quarter profit and revenue forecast below estimates on Wednesday, attributing the outlook to uncertain demand in the industrial and automotive sectors. This projection comes on the heels of a weak forecast from Texas Instruments (TXN) last month, reflecting broader challenges within the chip industry. As businesses clear excess inventory […]<\/p>\n","protected":false},"author":1,"featured_media":1377,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[361,312],"tags":[],"coauthors":[453],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1380"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=1380"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1380\/revisions"}],"predecessor-version":[{"id":1381,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1380\/revisions\/1381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1377"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=1380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=1380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=1380"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=1380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}