Gold prices tick higher on fresh U.S. tariff threats, Fed rate cut hopes
IRVINE - Skyworks Solutions, Inc. (NASDAQ:SWKS) shares jumped 7.9% after the semiconductor company reported stronger-than-expected third-quarter results and provided an upbeat outlook, driven by healthy demand in its mobile segment and steady growth across broad markets.
The analog and mixed-signal semiconductor provider posted adjusted earnings of $1.33 per share for its fiscal third quarter, comfortably exceeding analyst expectations of $1.24. Revenue reached $965 million, surpassing the consensus estimate of $940.85 million and increasing 7% YoY. The company’s performance was highlighted by gross margin and non-GAAP EPS exceeding the high end of its guidance range.
"We’re encouraged by the momentum in Mobile and steady strength across our Broad Markets, driven by long-term growth trends in edge IoT, automotive and data center," said Phil Brace, chief executive officer and president of Skyworks.
For the fourth quarter, Skyworks forecast revenue between $1 billion and $1.03 billion with adjusted earnings of approximately $1.40 per share at the midpoint, suggesting continued growth momentum. The company noted that its mobile segment remains healthy with projected sequential growth in the mid-single digits, while its Broad Markets business is expected to deliver another quarter of sequential growth and accelerating YoY performance.
The company also announced a 1% increase in its quarterly dividend to $0.71 per share, payable on September 16 to stockholders of record as of August 26.
During the quarter, Skyworks secured 5G content across premium Android smartphones and captured new automotive programs with global manufacturers including BYD (SZ:002594), Ford, Geely, and Nissan (OTC:NSANY). The company also expanded its Wi-Fi 7 momentum and unveiled new clock solutions for AI data center applications.
"Mobile remains healthy, with solid order patterns and projected sequential growth of mid-single digits," said Rob Schriesheim, interim chief financial officer of Skyworks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.