Skyworks Solutions Earnings: Here’s Why the Stock is Rising Now
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 5.57%.
Skyworks Solutions Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20% to $0.54 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 12.1% to $436.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Skyworks Solutions Inc. reported adjusted EPS income of $0.54 per share. By that measure, the company beat the mean analyst estimate of $0.53. It beat the average revenue estimate of $435.96 million.
Quoting Management: “Skyworks’ outperformance and outlook for sustainable above market growth reflects our progress towards becoming a highly diversified analog semiconductor market leader,” said David J. Aldrich, president and chief executive officer of Skyworks. “We are capturing margin-accretive content across a broad set of end markets spanning automotive, industrial, smart energy, home automation, medical, mobility and cloud computing. Leading customers within each of these targeted markets are increasingly requiring always-on connectivity and enhanced power efficiency which intersects with our core competencies. Our system-level innovations and scale advantages are translating into accelerating top line growth, margin expansion and, most importantly, returns well in excess of our cost of capital. Accordingly, Skyworks is well positioned to capitalize on the Internet of Things tsunami and to outpace the broader analog semiconductor market while increasing shareholder value.”
Key Stats (on next page)…