Analog Devices Reports Q1 Earnings, Beats Estimates with $2.42B Revenue, $1.63 EPS, Announces $10B Buyback and 8% Dividend Increase

Analog Devices Inc. (ADI) reported its quarterly earnings, achieving revenue of $2.42 billion, which represents a 3.58% decline year-over-year but exceeds estimates by $63 million. The company's earnings per share (EPS) stood at $1.63, down 5.78% year-over-year, beating expectations by $0.09. Following the earnings announcement, Analog Devices raised its dividend by 8% and initiated a $10 billion share buyback program. Other companies reporting earnings included Bumble Inc. (BMBL), which provided weak guidance for Q1, Etsy Inc. (ETSY), which missed revenue and gross merchandise volume (GMV) expectations, and Garmin Ltd. (GRMN), which surpassed both top and bottom-line estimates. Walmart Inc. (WMT) also beat expectations but issued weak guidance while increasing its annual dividend by 13%. Additionally, Alibaba Group Holding Ltd. (BABA) reported strong earnings that exceeded forecasts.