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Thursday, Aug 11, 2022
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Skyworks Solutions Earnings Beat Estimates

 Irvine-based chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) said fourth-quarter revenue rose 37% year-over-year to $1.31 billion, while adjusted diluted earnings per share jumped 42%.

The revenue rise virtually matched the average estimate of 22 analysts cited by Yahoo Finance, while the EPS of $2.62 easily beat the estimate of $2.53 apiece for the period ended Oct. 1.

For the current quarter, Skyworks said it anticipates revenue to be between $1.475 billion and $1.525 billion with adjusted diluted earnings per share of $3.10 at the midpoint of the revenue range.

“Looking ahead, Skyworks’ cash generation ability is funding capacity expansion and next-generation technology development,” Chief Executive Liam Griffin said in announcing the results.

Shares in Skyworks were down 4.7% today to $163.33 apiece for a market cap of $27.3 billion.

For further details, please see the Nov. 15 edition of the Business Journal.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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