Skyworks stock falls after results, outlook top Street view

2 months ago 17
PR Distribution

Skyworks Solutions Inc. SWKS, +2.39% shares dropped successful the extended league Thursday adjacent aft the semiconductor-component company’s results and outlook topped Wall Street estimates. Skyworks shares fell 5% aft hours, pursuing a 2.4% emergence successful the regular league to adjacent astatine $196.67. The institution reported fiscal third-quarter nett income of $337.8 million, oregon $2.02 a share, compared with $129.7 million, oregon 77 cents a share, successful the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and different items, were $2.15 a share, compared with $1.25 a stock successful the year-ago period. Revenue roseate to $1.12 cardinal from $736.8 cardinal successful the year-ago quarter. Analysts had forecast $2.14 a stock connected gross of $1.11 billion. Skyworks forecast adjusted net of astir $2.53 a stock should gross autumn successful the midpoint of its estimated gross scope of $1.27 cardinal to $1.33 cardinal for the fiscal 4th quarter. Analysts surveyed by FactSet had estimated $2.47 a stock connected gross of $1.23 billion.

Read Entire Article