LONDON (ShareCast) - (Sharecast News) - Analog Devices posted better-than-expected quarterly profits and revenues driven by the global shortfall in semiconductors supplies amid record sales in the Industrial and Automotive segments.
"All markets increased sequentially with our Industrial and Automotive segments once again achieving records," the company's chief executive officer, Vincent Roche, said.

"Robust bookings across all end markets, combined with lean inventories and ongoing capacity additions will enable us to close this year on a high note and continue to grow into fiscal 2022."

Revenues over the three months to 30 June jumped by 21% to reach 1.76bn, for a 39% surge in diluted earnings per share to $1.35.

Looking out to its fourth fiscal quarter, the chipmaker forecast sales of $1.78bn, plus or minus $70m, and adjusted earnings per share of $1.72 plus or minus 11 cents (FactSet: $1.71).

As of 1453 BST, shares of Analog Devices were falling 1.72% to $163.44.

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