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Skyworks: Fiscal 3Q Earnings Snapshot

August 7, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWKS at https://www.zacks.com/ap/SWKS

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