238.00 Dollar US$ Chipmaker Analog Devices forecasts strong Q4 results as demand... Dowelltown
- Location: 8742, Dowelltown, Vermont, United States
Aug 21 (Reuters) - Analog Devices forecast fourth-quarter revenue and Smart home automation brands profit above Wall Street expectations on Wednesday, as it benefits from returning demand for its chips used in consumer electronics.
A decline in surplus chip inventory across sectors, including communication, consumer and industrial, Smart home in pakistan has helped chipmakers see a recovery in orders after a years-long slump.
Analog Devices' consumer segment revenue rose 3% to $316.6 million in the third quarter, compared with analysts' average estimate of $289.3 million, according to LSEG data.
Shares of Wilmington, Best smart home automation companies Massachusetts-based Analog Devices rose 1.3% in premarket trading after the company's third-quarter profit of $1.58 per share also beat LSEG estimates of $1.51.
The company now expects fourth-quarter revenue of $2.
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