Chipmaker Skyworks Solutions (SWKS) set Wall Street's goal late Tuesday for making a profit from inline sales in the fourth quarter. However, the Skyworks earnings report lowered the SWKS share in extended trading.
Based in Woburn, Massachusetts, the company achieved an adjusted revenue share of $ 1.527 from $ 827 million in the quarter ended September 27. Analysts expected Skyworks Zacks Investment Research to earn $ 1.50 per revenue share of $ 827 million. Skyworks' profit declined 22% year-on-year, while revenue declined 18%.
For the current quarter, Skyworks expects an adjusted share of $ 1.65 per revenue of $ 880 million. That's based on the center of his leadership. Wall Street expected Skyworks earnings of $ 1.57 per share of sales of $ 863 million in the December quarter, Zacks said. In the same period last year, revenue of $ 1.83 was $ 972 million.
"Strategic product footprints, content growth and a growing presence among a broad range of customers, end markets and applications are expected to lead to sequential revenue and revenue growth in the December quarter," said CFO Kris Sennesael in a press release.
Skyworks earnings news down SWKS stock price decline
Skyworks shares fell 4.4% in after-hours trading, close to 97.10 today. During the regular session, SWKS shares rose by 1.2% to 101.59.
On October 21, the Skyworks stock broke out of a 28-week consolidation period at a buy point of 88.87.
Skyworks manufactures wireless networking chips. Skyworks' analog semiconductors serve markets such as aerospace, automotive, broadband, mobile, consumer electronics, connected homes, industrial, medical and military.
Skyworks delivered solid financial results in the fourth fiscal quarter, closing a year that saw an extraordinary market experience volatility and change, "said Chief Executive Liam Griffin in a statement," Looking to the future, we are well placed to support our Mission to deliver compelling 5G solutions to a growing and diverse range of customers and markets. "
Follow Patrick Seitz on Twitter at @IBD_PSeitz Other articles on consumer technology, software and Semiconductor Companies.
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