Analog Devices Inc. (ADI) has forecasted third-quarter revenue above Wall Street expectations, driven by increased demand for its automotive and industrial chips. The company reported second-quarter revenue of $2.16 billion, surpassing the midpoint of its outlook. Diluted earnings per share were $0.61, while adjusted diluted earnings per share stood at $1.40. Operating cash flow reached $4.3 billion, with free cash flow at $3.1 billion on a trailing twelve-month basis. ADI also provided guidance for the next quarter, expecting revenue to be $2.27 billion, plus or minus $100 million, representing a 5% sequential increase. The company's stock saw a positive reaction, jumping on the strong guidance and Q2 results. ADI cited inventory stabilization and improving orders as key factors for the beat and raise.