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Stockreport

Skyworks forecasts third-quarter revenue below estimates [Reuters]

Skyworks Solutions, Inc. (SWKS)  More Company Research Source: Reuters
Last skyworks solutions, inc. earnings: 1/23 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.skyworksinc.com/investor-relations
April 30 (Reuters) - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip company forecasts revenue of $900 million, plus or minus 2%, in the third quarter, below analysts' average estimate of $1.02 billion, according to LSEG data. It expects adjusted earnings of $1.21 per share for the third quarter. The company sees its "mobile business to be down sequentially, below normal seasonal patterns, as excess inventory clears. In broad markets, we anticipate further modest growth as inventory levels appear to be normalizing in certain end markets" in the third quarter, according to Skyworks' CFO Kris Sennesael. Skyworks gets most of its revenue from selling radio frequency and other chips used in smartphones made by Apple and Samsung Electronics , among others. Global smartphone shipments 7.8% to 289.4 mi [Read more]
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Stockreport

Skyworks forecasts third-quarter revenue below estimates [Reuters]

Skyworks Solutions, Inc.  (SWKS) 
More Company Research Source: Reuters
Last skyworks solutions, inc. earnings: 1/23 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.skyworksinc.com/investor-relations
April 30 (Reuters) - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip company forecasts revenue of $900 million, plus or minus 2%, in the third quarter, below analysts' average estimate of $1.02 billion, according to LSEG data. It expects adjusted earnings of $1.21 per share for the third quarter. The company sees its "mobile business to be down sequentially, below normal seasonal patterns, as excess inventory clears. In broad markets, we anticipate further modest growth as inventory levels appear to be normalizing in certain end markets" in the third quarter, according to Skyworks' CFO Kris Sennesael. Skyworks gets most of its revenue from selling radio frequency and other chips used in smartphones made by Apple and Samsung Electronics , among others. Global smartphone shipments 7.8% to 289.4 mi [Read more]
IMPACT SNAPSHOT
EVENT TIME:
SWKS
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS