Analog Devices Inc

Analog Devices delivered a standout fiscal third quarter for 2026, beating Wall Street expectations on both the top and bottom lines and extending its consensus EPS beat streak to four consecutive quarters. The chipmaker posted adjusted EPS of $3.45, clearing the $3.34 consensus estimate by 3.32%, while revenue of $4.02 billion topped the $3.93 billion consensus by 2.36% and surged 39.6% year-over-year. The primary engine behind that growth was broad-based demand across all end markets, with the Industrial segment alone contributing $1.97 billion and the Communications segment posting 84% year-over-year growth to $654.51 million, a gain widely attributed to data center and AI-related demand. Adjusted operating margin reached 50.0%, expanding 780 basis points from a year ago, reflecting powerful operating leverage on higher volumes. With institutional interest in ADI visibly rising heading into the print, the results appeared to validate that confidence. Looking ahead, management guided for Q4 revenue of $4.30 billion and adjusted EPS of $3.86, framing the outlook as a record quarter in the making and expressing confidence in carrying momentum into fiscal 2027.