Q2 Earnings Beat

Fiscal Q2 2026, ending May 2, Analog Devices posted revenue of $3.62 billion, up 37 % year‑over‑year and 15 % sequentially, surpassing the high‑end of guidance. Adjusted earnings per share were $3.09, 6.9 % above the Zacks Consensus Estimate of $2.89, and gross margin rose to 73 %, an 180‑basis‑point lift. Operating margin reached 49 %, up 350 basis points sequentially, while operating cash flow was $872 million, representing 24 % of revenue. Free cash flow totaled $4.6 billion, 36 % of revenue, and the company returned $1.3 billion to shareholders via dividends and share buybacks. The quarterly dividend of $1.10 per share is payable on June 16 to shareholders of record as of June 2. The cash balance at quarter‑end was $5.2 billion, underpinning a strong liquidity position.