The earnings call reflected strong revenue growth across all segments, driven by demand recovery in industrial and automotive markets. However, concerns about tariff uncertainty and its impact on order patterns, particularly in the automotive segment, were noted. Operating margin improvement was moderate due to increased compensation expenses. Overall, the positive aspects of revenue growth and market recovery were slightly tempered by the challenges posed by tariffs and inventory management.

Company Guidance

During the Analog Devices Second Quarter Fiscal Year 2025 Earnings Conference Call, the company provided several key metrics and forward-looking guidance. Revenue for the second quarter was $2.64 billion, surpassing expectations with a 22% year-over-year increase. Gross margin stood at 69.4%, and operating margin was 41.2%. The company reported an EPS of $1.85, reflecting a 32% year-over-year growth. Looking ahead, for the third quarter, Analog Devices is forecasting revenue of $2.75 billion, plus or minus $100 million, and an expected operating margin of 41.5%. The adjusted EPS is anticipated to be $1.92, plus or minus $0.10. The company noted a strong performance across all end markets, with notable growth in industrial and automotive sectors, while emphasizing a continued cyclical upturn and resilience in its business model.

Strong Revenue Growth

Second quarter revenue of $2.64 billion, up 9% sequentially and 22% year-over-year, exceeding expectations.

Industrial Market Recovery

Industrial represented 44% of revenue, with 8% sequential growth and 17% year-over-year growth, showing recovery across all subsectors and regions.

Automotive Segment Performance

Automotive represented 32% of quarterly revenue, with a record result of 16% sequential growth and 24% year-over-year growth, driven by strong demand in China.

Communications and Consumer Growth

Communications and consumer segments showed strong growth, with 32% and 30% year-over-year increases respectively.

Gross Margin Improvement

Gross margin was 69.4%, up 60 basis points sequentially, driven by higher utilization.

Positive Outlook and Book-to-Bill Ratios

Positive book-to-bill ratios across all sectors and geographies, indicating strong demand and recovery.

Analog Devices (ADI) Earnings, Revenues Date & History

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ADI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 20, 2025	2025 (Q3)	1.93 / -	1.58	―	―	―
May 22, 2025	2025 (Q2)	1.70 / 1.85	1.4	32.14% (+0.45)	―
Feb 19, 2025	2025 (Q1)	1.54 / 1.63	1.73	-5.78% (-0.10)	―
Nov 26, 2024	2024 (Q4)	1.64 / 1.67	2.01	-16.92% (-0.34)	―
Aug 21, 2024	2024 (Q3)	1.51 / 1.58	2.49	-36.55% (-0.91)	―
May 22, 2024	2024 (Q2)	1.26 / 1.40	2.83	-50.53% (-1.43)	―
Feb 21, 2024	2024 (Q1)	1.71 / 1.73	2.75	-37.09% (-1.02)	―
Nov 21, 2023	2023 (Q4)	2.00 / 2.01	2.73	-26.37% (-0.72)	―
Aug 23, 2023	2023 (Q3)	2.52 / 2.49	2.52	-1.19% (-0.03)	―
May 24, 2023	2023 (Q2)	2.75 / 2.83	2.4	17.92% (+0.43)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ADI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 22, 2025	$221.21	$210.97	-4.63%
Feb 19, 2025	$218.27	$239.52	+9.74%
Nov 26, 2024	$220.67	$216.20	-2.03%
Aug 21, 2024	$219.72	$223.66	+1.79%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.