Semiconductor firm Analog Units, Inc. (NASDAQ: ADI) reported a pointy decline in revenues and adjusted revenue for the second quarter of 2024.
Second-quarter earnings, excluding particular gadgets, declined 51% year-over-year to $1.40 per share from $2.83 per share final 12 months. On a reported foundation, internet revenue plunged to $302.2 million or $0.61 per share within the April quarter from $977.7 million or $1.92 per share in Q2 2023.
The underside line efficiency was negatively impacted by a 34% fall in revenues to $2.16 billion within the second quarter from $3.26 billion within the prior 12 months interval.
“ADI delivered second-quarter revenue above the midpoint of our outlook, despite continued macro and inventory headwinds. Further, the strength and resiliency of our business model, coupled with disciplined cost control, enabled us to achieve profitability and earnings per share above the high-end of our outlook,” mentioned the corporate’s CEO Vincent Roche.
