Skyworks Solutions Posts Mixed Q3 Results: The Details
Portfolio Pulse from Erica Kollmann
Skyworks Solutions Inc (NASDAQ:SWKS) reported mixed Q3 results with earnings per share missing estimates but sales beating expectations. The company also increased its quarterly dividend by 3%. Despite a decrease in both earnings and sales compared to last year, the company remains optimistic about future growth driven by generative AI applications. Skyworks expects Q4 revenue to be between $1 billion to $1.04 billion and non-GAAP EPS of $1.52 at the mid-point.
July 30, 2024 | 8:55 pm
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Skyworks Solutions reported mixed Q3 results with earnings per share missing estimates but sales beating expectations. The company increased its quarterly dividend by 3%. Despite a decrease in both earnings and sales compared to last year, the company remains optimistic about future growth driven by generative AI applications. Skyworks expects Q4 revenue to be between $1 billion to $1.04 billion and non-GAAP EPS of $1.52 at the mid-point.
The mixed Q3 results with an EPS miss and sales beat create a neutral short-term impact. The dividend increase and optimistic Q4 outlook provide positive signals, but the after-hours price drop indicates investor caution.
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