Skyworks Solutions (SWKS) Tops Q3 EPS by 13c; Raises Outlook

Skyworks Solutions (NASDAQ: SWKS) reported Q3 EPS of $1.25, $0.13 better than the analyst estimate of $1.12. Revenue for the quarter came in at $736.8 million versus the consensus estimate of $690.67 million.

“Skyworks delivered results well above expectations in the June quarter, as our Sky5® platform gains traction, powering innovation in 5G applications at the leading mobile phone OEMs worldwide, and increasingly across our IoT customers,” said Liam K. Griffin, president and chief executive officer of Skyworks.

“At the cusp of a multi-year upgrade cycle, we are capitalizing on early market momentum and accelerating widespread 5G adoption. Our efforts are underpinned by years of investment in next-generation technologies, uniquely positioning Skyworks to deliver long-term profitable growth.”

GUIDANCE:

Skyworks Solutions sees Q4 2020 EPS of $1.51, versus the consensus of $1.47. Skyworks Solutions sees Q4 2020 revenue of $830-850 million, versus the consensus of $809.5 million.

For earnings history and earnings-related data on Skyworks Solutions (SWKS) click here.

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