Advertisement
New Zealand markets closed

  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     

  • NZD/USD

    0.5962
    +0.0025 (+0.42%)
     

  • NZD/EUR

    0.5552
    +0.0006 (+0.11%)
     

  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     

  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     

  • OIL

    83.20
    +0.39 (+0.47%)
     

  • GOLD

    2,339.40
    +1.00 (+0.04%)
     

  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     

  • FTSE

    8,082.92
    +42.54 (+0.53%)
     

  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     

  • DAX

    18,016.39
    -72.31 (-0.40%)
     

  • Hang Seng

    17,269.04
    +67.77 (+0.39%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • NZD/JPY

    92.7600
    +0.6450 (+0.70%)
     

Despite Weak iPhone Demand, Skyworks (SWKS) Posts Earnings & Revenue Beats

Ryan McQueeney
Updated

Skyworks Solutions, Inc. (SWKS) just released its latest quarterly financial results, posting non-GAAP earnings of $1.64 per share and revenues of $913.4 million.

Currently, SWKS is a Zacks Rank #4 (Sell), but that could change based on today’s results. Shares of the company have lost about 8% over the past month but added just over 1% during regular trading hours today.

The stock is currently up 0.8% to $93.00 per share in after-hours trading shortly after its earnings report was released.

Skyworks:

Beat earnings estimates. The company posted adjusted earnings of $1.64 per share, topping the Zacks Consensus Estimate of $1.60. Investors should note that this consensus projection has trended downward over the duration of the quarter.

ADVERTISEMENT

Beat revenue estimates. The company saw revenue figures of $913.4 million, surpassing our consensus estimate of $910.4 million. Revenue was up 7% year over year.

Non-GAAP operating income was $331.1 million, up 13% from the prior-year period. The company generated $434.2 million in cash flow from operations. Skyworks’ Board of Directors declared a cash dividend of $0.32 per share for stockholders on record as of May 22.

“Strong growth in our broad market portfolio is mitigating the near term softness at leading smartphone customers and the trade restrictions imposed by the U.S. government on a Chinese OEM,” said CFO Kris Sennesael.

Skyworks said it expects revenue for the current quarter to fall in the range of $875 to $900 million, with non-GAAP diluted earnings per share of $1.59. Prior to the report, our latest Zacks Consensus Estimates were calling for revenue of $941.9 million and earnings of $1.65 per share.

Here’s a graph that looks at Skyworks’ recent earnings performance:

Skyworks Solutions, Inc. Price, Consensus and EPS Surprise

Skyworks Solutions, Inc. Price, Consensus and EPS Surprise | Skyworks Solutions, Inc. Quote

 

Skyworks Solutions, Inc. is an American semiconductor company. The firm’s products are used within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet, and wearable markets.

Check back later for our full analysis on SWKS’ earnings report!

Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

5 Medical Stocks to Buy Now

Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.

New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.

Click here to see the 5 stocks >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Skyworks Solutions, Inc. (SWKS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research