Skyworks Solutions (SWKS) Tops Q1 EPS by 3c; Issues Solid Outlook

Skyworks Solutions (NASDAQ: SWKS) reported Q1 EPS of $1.68, $0.03 better than the analyst estimate of $1.65. Revenue for the quarter came in at $896 million versus the consensus estimate of $880.6 million.

“Skyworks exceeded December quarter expectations driven by global demand for our high performance connectivity engines,” said Liam K. Griffin, president and chief executive officer of Skyworks. “Leveraging decades of experience, manufacturing scale and vertical integration capabilities, our highly advanced Sky5® platform is fueling market adoption of 5G across a broadening customer set. With an expansive suite of applications − from smartphones to wireless infrastructure, industrial robotics, autonomous vehicles, smart homes and virtual assistants − our solutions provide the critical connection, ensuring peak performance for 5G and IoT usage cases. At the same time, through crisp operational execution and a strong business model, we are translating these results into long-term shareholder value.”

GUIDANCE:

Skyworks Solutions sees Q2 2020 EPS of $1.46, versus the consensus of $1.40. Skyworks Solutions sees Q2 2020 revenue of $800-820 million, versus the consensus of $788.4 million.

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

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