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Semiconductor company Analog Devices, Inc. (NASDAQ: ADI ) on Wednesday reported a double-digit increase in profit and loss for the first quarter of 2023.
Net income, adjusted for one-off items, rose to $2.75 per share in the January quarter from $1.94 per share in the same period in 2022. On a reported basis, earnings more than doubled to $961.5 million or $1.88 per share.
The impressive underlying performance showed a 21% increase in revenue to $3.25 billion. All operating segments, except the consumer division, expanded during the quarter.
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