Skyworks Solutions Inc., a key supplier for Apple, reported third-quarter revenue of $965 million, surpassing the consensus estimate of $940.8 million. The company posted a GAAP diluted earnings per share (EPS) of $0.70 and an adjusted EPS of $1.33, beating the estimated $1.22. Adjusted operating income reached $224 million, exceeding the expected $212.2 million. Skyworks generated year-to-date operating cash flow of $1.1 billion and free cash flow of $962 million. The company declared a quarterly dividend of $0.71 per share, marking a 1% increase. For the fourth quarter, Skyworks forecasted revenue between $1 billion and $1.03 billion, with an adjusted EPS of $1.40, both above market expectations. The strong guidance is driven by robust demand across mobile, automotive, Internet of Things (IoT), and data center markets, contributing to a share price increase of approximately 7.6% to 8%.
Apple supplier Skyworks forecasts upbeat quarterly results on strong chip demand https://t.co/Q6DzRXcSCV https://t.co/Q6DzRXcSCV
$SWKS +7.6% [Skyworks' Q3 revenue was $965M (consensus $940.85M), GAAP EPS $0.70. Forecasts Q4 revenue $1-1.03B & adj. EPS $1.40, exceeding estimates. Strong demand in mobile, auto, IoT, data center boosts shares. Dividend up 1%.] https://t.co/h5SkiViRut https://t.co/OzGACZj4vK
$SWKS +7.6% [Skyworks' Q3 revenue was $965M, GAAP EPS $0.70. Forecasts Q4 revenue $1-1.03B & adj. EPS $1.40, exceeding estimates. Strong demand in mobile, auto, IoT, data center boosts shares ~10%. Dividend up 1%.] https://t.co/h5SkiVjpk1 https://t.co/KvbqpwILZX