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Skyworks Drops After Q3 Forecast

Sees revenue, profit well below estimates

Shares of Irvine-based chipmaker Skyworks Solutions Inc. fell almost 10% after forecasting third-quarter results that will miss analysts’ consensus estimates.

Shares dropped 9.5% in after-hours trading to $96.50 each. The company had a $17.1 billion market cap in regular trading before the results were released.

The company, which makes semiconductors for companies like Apple Inc., forecast third-quarter sales of $900 million, below the $1 billion expected by analysts. The company also predicted adjusted profit will be $1.21, below the $1.47 expected by analysts.

“During the March quarter, in our mobile business, we saw below normal seasonal trends, with lower-than-expected end market demand,” Chief Executive Liam Griffin said in a statement.

For more on Skyworks, see the Business Journal’s May 6 issue.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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