Analog Devices reported fiscal third-quarter revenue of $2.88 billion, a 25% increase from a year earlier and ahead of analysts’ $2.76 billion consensus. Adjusted earnings per share rose 30% to $2.05, also beating the $1.95 average estimate, while GAAP EPS came in at $1.04. Gross margin reached 62.1% on a GAAP basis and 69.2% on an adjusted basis, reflecting strength across all end markets, led by industrial and automotive demand. Chief Executive Officer Vincent Roche said the results "exceeded the high end of our expectations" despite geopolitical and trade uncertainty. Trailing-twelve-month operating cash flow climbed to $4.2 billion and free cash flow to $3.7 billion, representing 35% of revenue. The company returned $1.6 billion to shareholders during the quarter through $0.5 billion in dividends and $1.1 billion in share repurchases, and the board declared a $0.99 quarterly dividend payable on 16 September. For the fourth quarter, Analog Devices projects revenue of about $3 billion, plus or minus $100 million, and adjusted EPS of roughly $2.22. Management expects reported operating margin around 30.5%, or 43.5% on an adjusted basis, indicating continued momentum as the semiconductor supplier navigates the volatile trade environment.