Analog Devices Revenue Surges 30% to $3.16B as Q1 Profit More Than Doubles

Analog Devices (NASDAQ: ADI), a semiconductor and signal processing technology manufacturer, reported revenue of $3.16 billion for the quarter ending January 31, 2026, marking a 30% increase from $2.42 billion in the year-ago quarter. Net income more than doubled to $830.8 million, compared to $391.3 million in the same period last year. Read more earnings reports.

Diluted earnings per share came in at $1.69, up sharply from $0.78 a year earlier. Operating income for the quarter reached $997.0 million, compared to $491.3 million in the prior-year period.

Gross profit expanded to $2.04 billion from $1.43 billion, reflecting a gross margin improvement as revenue growth outpaced the rise in cost of goods sold. Cost of goods sold increased to $1.12 billion from $992.9 million.

Operating expenses totaled $1.05 billion, up from $939.0 million in the year-ago quarter. Research and development spending rose to $467.4 million from $402.9 million, while selling, general and administrative expenses climbed to $345.3 million from $284.8 million.

The company generated $1.37 billion in cash from operations during the quarter, up from $1.13 billion a year earlier. Cash used in financing activities totaled $855.0 million, compared to $573.9 million in the prior-year period, while investing activities consumed $107.0 million versus $194.3 million.

Total assets stood at $48.0 billion as of January 31, 2026, essentially flat from $48.0 billion as of November 1, 2025. Cash and cash equivalents increased to $2.91 billion from $2.50 billion at the start of the quarter.

Stockholders' equity declined slightly to $33.8 billion from $33.8 billion at the beginning of the fiscal quarter. Long-term debt decreased to $7.24 billion from $8.15 billion. Inventory rose to $1.77 billion from $1.66 billion.

Common shares outstanding totaled 488.2 million as of January 31, 2026, down from 489.7 million shares three months earlier.

Financial Summary