Analog Devices forecasts third-quarter results above estimates

Analog Devices forecast third-quarter revenue and profit above Wall Street expectations on Thursday, betting on upbeat demand for its chips used in the automotive and industrial sectors. The Wilmington, Massachusetts-based chipmaker projected third-quarter revenue of $2.75 billion, plus or minus $100 million, above estimates of $2.62 billion, according to data compiled by LSEG. It also forecast adjusted per-share earnings of $1.92, plus or minus 10 cents, which was above Wall Street estimates of $1.83 per share.