Skyworks Q3 Earnings: EPS Beat, Revenue In Line, Soft Guidance, Shares Fall
Portfolio Pulse from Ryan Gustafson
Skyworks Solutions, Inc. (NASDAQ:SWKS) reported Q3 earnings of $1.73 per share, beating the analyst consensus estimate of $1.67, but representing a 29.1% decrease YoY. Quarterly sales were $1.07 billion, in line with estimates, but down 13.12% YoY. The company also reported a quarterly operating cash flow of $305.7 million and a record year-to-date operating cash flow of $1.491 billion. However, the company issued soft guidance for Q4, with earnings of $2.10 per share at the midpoint versus the estimate of $2.11, and revenue between $1.19 billion and $1.24 billion versus the estimate of $1.22 billion. Shares fell 1.37% in after-hours trading.
August 07, 2023 | 8:57 pm
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Skyworks Solutions reported Q3 earnings that beat estimates but were down YoY. Sales were in line with estimates but also down YoY. The company issued soft Q4 guidance. Shares fell in after-hours trading.
Skyworks Solutions reported Q3 earnings that beat estimates but were down YoY, indicating a decrease in profitability. Sales were in line with estimates but also down YoY, indicating a decrease in demand. The company issued soft Q4 guidance, suggesting that the company expects its performance to continue to decline. This negative news likely led to the fall in the company's share price in after-hours trading.
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