This paper discusses the expected characteristics of balanced transistor amplifiers with symmetrical directional couplers. Provided that pairs of transistors with similar characteristics can be selected from a given distribution, the input and output matches obtained with the balanced configuration are satisfactory over a ±10 per cent bandwidth with simple one-section lumped-constant LC directional couplers and over a ±40 per cent bandwidth (1.2 octaves) with one section distributed λ/4 couplers. For single-stage amplifiers, the decrease in gain is less than 0.1 db and the phase nonlinearities introduced by the couplers are about ±0.16° and ±0.6°, respectively, over the same bandwidths. The requirements on the terminations which are connected to the couplers to absorb the transistor reflections are not stringent: VSWR's less than 1.4 should be acceptable. The noise measure of balanced amplifiers is calculated to be a weighted average of the noise measures of the two component amplifiers, plus a small term which vanishes when the couplers have 3-db coupling and the component amplifiers have identical gains. Gain compression takes place at a 3-db higher signal level compared with conventional single-ended designs, and the expected improvement in the third-order intermodulation is 9 db on the average. In the final section, the cascade connection of identical balanced amplifiers is discussed. With typical microwave transistors, the input and output return losses for a multistage amplifier should be about 4.5 db worse than those for the individual single-stage amplifiers of which it is composed. The gain ripple introduced by the interactions between stages is also investigated in detail.