Skyworks: Fiscal 3Q Earnings Snapshot
WOBURN, Mass. (AP) _ Skyworks Solutions Inc. (SWKS) on Wednesday reported fiscal third-quarter net income of $144.1 million.
The Woburn, Massachusetts-based company said it had net income of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.35 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The chipmaker posted revenue of $767 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $765.9 million.
For the current quarter ending in September, Skyworks expects its per-share earnings to be $1.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.54.
The company said it expects revenue in the range of $815 million to $835 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $839.4 million.
Skyworks shares have risen 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $79.90, a fall of 17% in the last 12 months.