Skyworks Solutions Earnings: Here’s Why Investors Like These Results
Skyworks Solutions Inc. (NASDAQ:SWKS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.63%.
Skyworks Solutions Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.29% to $0.48 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 16.59% to $425.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Skyworks Solutions Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.47. It beat the average revenue estimate of $420.37 million.
Quoting Management: “As our better than seasonal results and growth outlook demonstrate, Skyworks is gaining margin-rich content and share across mobile applications while capitalizing on adjacent home automation, networking, medical, smart grid and machine-to-machine vertical markets,” said David J. Aldrich, president and chief executive officer of Skyworks. “Leveraging our product innovation, scale and strong customer relationships, we are solidifying our position as a highly diversified analog semiconductor market leader. Further to that end, we are increasingly migrating our product portfolio to differentiated, system-level solutions that provide greater value to our customers and command higher margins.”
Key Stats (on next page)…