Skyworks forecasts third-quarter revenue below estimates [Reuters]
Skyworks Solutions, Inc. (SWKS)
Last skyworks solutions, inc. earnings: 1/23 04:01 pm
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investors.skyworksinc.com/investor-relations
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Source: Reuters
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
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News
- Forget Nvidia: 3 Semiconductor Stocks to Buy Instead [Yahoo! Finance]Yahoo! Finance
- Skyworks Solutions, Inc. (NASDAQ: SWKS) was downgraded by analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating.MarketBeat
- It Looks Like Skyworks Solutions, Inc.'s (NASDAQ:SWKS) CEO May Expect Their Salary To Be Put Under The Microscope [Yahoo! Finance]Yahoo! Finance
- CEO, President & Chairman of the Board of Skyworks Solutions Picks Up 7.8% More Stock [Yahoo! Finance]Yahoo! Finance
- Why Skyworks Solutions Stock Sank This Week [Yahoo! Finance]Yahoo! Finance
SWKS
Earnings
- 4/30/24 - Beat
SWKS
Sec Filings
- 5/21/24 - Form 144
- 5/17/24 - Form 8-K
- 5/16/24 - Form 4
- SWKS's page on the SEC website