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Analog Devices shares decline after revenue outlook cut

Analog Devices Inc. shares declined in the extended session Thursday after the maker of integrated circuits cut its revenue outlook. Shares of Analog Devices, which had been briefly halted, fell 3.9% to $48.54 after hours. The company said it expects fiscal first-quarter revenue of $745 million to $765 million, compared with its previous forecast of $805 million to $855 million. Analysts surveyed by FactSet had estimated revenue of $829.9 million. The company said the cut was due to weaker-than-forecast demand in its portable consumer business unit that is expected to continue into the fiscal second quarter.

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Analog Devices shares decline after revenue outlook cut Reviewed by on . Analog Devices Inc. shares declined in the extended session Thursday after the maker of integrated circuits cut its revenue outlook. Shares of Analog Devices, w Analog Devices Inc. shares declined in the extended session Thursday after the maker of integrated circuits cut its revenue outlook. Shares of Analog Devices, w Rating:
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