Semiconductor company Skyworks Solutions reported adjusted quarterly earnings of $1.54 per share, above analysts’ estimates, and projected better-than-expected revenue for the current period. The Irvine-based company’s shares rose more than 3% in after-hours trading.
Net income for the fiscal first quarter ended Jan. 2 was $79.2 million, below the $162 million posted for the same quarter a year ago.
For the current quarter, Skyworks projects revenue of $875 million to $925 million, above analysts’ estimates of $868 million.
Shares in Skyworks increased 3.5% to $57.88 apiece in after-hours trading, following an intraday market cap of $8.4 billion.
For further details on Skyworks, see the Feb. 9 edition of the Business Journal.
