Analog Devices (ADI) reported fiscal Q1 adjusted earnings Wednesday of $1.63 per diluted share, down from $1.73 a year earlier.
Analysts polled by FactSet expected $1.54.
Revenue for the quarter ended Feb. 1 was $2.42 billion, compared with $2.51 billion a year earlier.
Analysts polled by FactSet expected $2.36 billion.
The company said it expects fiscal Q2 adjusted EPS of about $1.68. Analysts polled by FactSet expect $1.79. Revenue is estimated at about $2.50 billion. Analysts polled by FactSet expect $2.46 billion.
Analog Devices said its board approved an 8% increase in quarterly dividend to $0.99 per share, payable March 17 to shareholders as of March 4.
The company said it also increased its share buyback authorization by $10 billion, bringing its total repurchase capacity to about $11.5 billion.
Shares of Analog Devices were up over 5% in recent premarket activity Wednesday.
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