Ahead of Analog Devices (ADI) Q2 Earnings: Get Ready With Wall Street Estimates for Key Metrics

Wall Street analysts expect Analog Devices (ADI) to post quarterly earnings of $2.89 per share in its upcoming report, which indicates a year-over-year increase of 56.2%. Revenues are expected to be $3.51 billion, up 33.1% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 2.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.With that in mind, let's delve into the average projections of some Analog Devices metrics that are commonly tracked and projected by analysts on Wall Street.Analysts' assessment points toward 'Revenue by end market- Consumer' reaching $382.37 million. The estimate points to a change of +20.3% from the year-ago quarter.It is projected by analysts that the 'Revenue by end market- Communications' will reach $519.78 million. The estimate suggests a change of +65% year over year.Analysts forecast 'Revenue by end market- Automotive' to reach $794.55 million. The estimate indicates a change of -6.5% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Revenue by end market- Industrial' of $1.81 billion. The estimate indicates a year-over-year change of +56.3%. View all Key Company Metrics for Analog Devices here>>> Shares of Analog Devices have demonstrated returns of +20.6% over the past month compared to the Zacks S&P 500 composite's +7.7% change. With a Zacks Rank #2 (Buy), ADI is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks