Skyworks Solutions Inc. (NASDAQ:SWKS) shares are trending on Wednesday.
SWKS shares fell 3.53% to $70 in after-hours trading on Tuesday despite the company beating analyst revenue estimates by 4.72% and earnings per share estimates by 18.56% in its fiscal second quarter.
Q2 Revenue Hits $944 Million
On Tuesday, Skyworks reported $944 million in revenue for the quarter ended April 3. Non-GAAP diluted earnings per share were $1.15, while GAAP earnings per share came in at $0.24. GAAP operating income was $42 million, compared with $189 million on a non-GAAP basis.
Philip Carter, chief financial officer and senior vice president of Skyworks, said “For the June quarter, we anticipate revenue of $900 million to $950 million, with non-GAAP diluted earnings per share of $1.03 at the mid-point of the revenue range.”
Carter added that Mobile is expected to decline in the low single digits sequentially, while Broad Markets, the company’s non-mobile segment that includes Wi-Fi, data center, automotive, and industrial applications, is expected to grow modestly. It represents about 43% of sales and is up high-single digits year over …
