Irvine-based chipmaker Skyworks Solutions reported fiscal fourth-quarter revenue of $1.22 billion, in line with analysts’ expectations but about 13% below the same period a year earlier as the company faced “macroeconomic headwinds.”
Skyworks expects revenue in the current fiscal first quarter to be between $1.18 billion and $1.23 billion. Analysts have forecast $1.29 billion.
The company’s (Nasdaq: SWKS) shares fell 5.3% to $84.80 apiece for a market cap of $14.3 billion in after-hours trading.
Adjusted earnings per share at $2.20 for the quarter ended Sept. 29 were down from $3.02 apiece in the same period a year earlier.
“Skyworks delivered solid results despite macroeconomic headwinds reflecting our resilient business model and operational excellence,” said Liam K. Griffin, chairman, chief executive officer and president of Skyworks.
For further details, see the Nov. 13 print edition.
