Skyworks Solutions Q1 2024 Adj EPS $1.97 Beats $1.95 Estimate, Sales $1.20B Inline
Portfolio Pulse from Benzinga Newsdesk
Skyworks Solutions (NASDAQ:SWKS) reported Q1 2024 adjusted earnings per share (EPS) of $1.97, slightly beating the consensus estimate of $1.95 by 1.03%. However, the company's quarterly sales of $1.20 billion, while in line with estimates, marked a 9.56% decrease from the $1.33 billion reported in the same period last year.
January 30, 2024 | 9:02 pm
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NEUTRAL IMPACT
Skyworks Solutions reported a slight beat on EPS estimates for Q1 2024 but experienced a significant year-over-year decline in sales.
While the EPS beat might provide a short-term positive sentiment, the significant decrease in sales year-over-year could raise concerns about the company's growth trajectory and potentially offset any gains from the EPS beat. The mixed results are likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100