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Skyworks Solutions Quarterly Results Top Analyst Expectations
['Kevin Costelloe', 'Tech Reporter At Orange County Business Journal']
Orange County Business Journal
Chipmaker Skyworks Solutions reported quarterly results above analysts’ estimates today, while expressing optimism its giant merger with chipmaker Qorvo will be completed by the end of the year.
Revenue was $935 million for the third fiscal quarter ended July 3, a 3% decline year over year, with adjusted earnings per share of $1.08.
The Irvine-based company is projecting adjusted earnings per share of $1.27 at the mid-point of the revenue range for the current quarter, slightly below analysts’ estimates.
Skyworks CEO Phil Brace said the company will be preparing to close its merger with Qorvo by as early as the end of September, while saying he is “optimistic” it will happen in 2026.
Shares in the company fell 6% to $64.68 apiece in after-hours trading amid continued turmoil in the chipmaker industry (Nasdaq: SWKS).