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Skyworks Revenue Rises, Sees Demand Weakness

Share’s down slightly after hours

Chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) in Irvine said quarterly revenue rose 7% to $1.41 billion, slightly above analysts’ estimates, while predicting “demand weakness” through the end of this year.

 

Liam K. Griffin, chairman, chief executive officer and president of Skyworks, said the company’s “strong profitability and cash generation continue to support development of next-generation technologies” for long-term growth and greater market share.

Kris Sennesael, senior vice president and chief financial officer of Skyworks, said in his outlook for the quarter that started Oct. 1: “Given broad demand weakness, we expect revenue to decline on a sequential basis.” Sequential refers to quarter-on-quarter comparisons.

“Specifically, in the first fiscal quarter of 2023, we anticipate revenue to be between $1.3 billion and $1.35,” he added.

Shares in Skyworks retreated 0.9% to $81.60 apiece for a market cap of $13.2 billion following the release of the fiscal fourth-quarter earning today.

Apple Inc. is Skyworks’ largest customer.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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