Analog Devices reported fiscal third-quarter revenue of $4.02 billion, up 40% from a year earlier and above analysts’ $3.92 billion estimate, marking the first time quarterly revenue has exceeded $4 billion. Adjusted earnings per share rose to $3.45 from $2.05, beating consensus estimates of $3.34, while GAAP net income climbed to $1.34 billion from $519 million. The company forecast fiscal fourth-quarter revenue of $4.2 billion to $4.4 billion, with a midpoint of $4.3 billion, and adjusted EPS of $3.71 to $4.01, both above FactSet consensus of $4.08 billion and $3.54. CEO Vincent Roche said demand continues to grow, supported by AI, defense spending, cyclical momentum and long-term content growth across diversified end markets. Industrial revenue rose 53% and remained nearly half of total sales, while communications jumped 84%, helped by data center demand for power-management and optical-module-related products. Analog Devices’ role in the AI buildout centers on analog and power chips that help racks draw and regulate electricity, an area becoming more critical as server power density rises. In May, the company agreed to acquire Empower Semiconductor for $1.5 billion in cash, adding vertical power delivery technology aimed at easing AI power constraints. Analog Devices returned $1.7 billion to shareholders in the quarter through dividends and repurchases, declared a quarterly dividend of $1.10 per share, and saw its shares rise about 1.2% in premarket trading after the results.