Skyworks Solutions Analysts Boost Their Forecasts After Q3 Results

Core Insights - Skyworks Solutions Inc reported mixed third-quarter financial results, with earnings per share of $1.21, missing the analyst consensus estimate of $1.23, and reflecting a 30.06% decrease year-over-year [1] - Quarterly sales reached $905.5 million, surpassing the analyst consensus estimate of $900.4 million, but showing a 15.47% decline compared to the same period last year [1] - The CEO highlighted strong profitability and a ramp-up in the mobile business, with expectations for generative AI applications to drive future growth in RF complexity [1] Financial Performance - Earnings per share: $1.21, below the expected $1.23, down 30.06% from last year [1] - Quarterly sales: $905.5 million, exceeding the $900.4 million estimate, down 15.47% year-over-year [1] Future Outlook - Skyworks anticipates fourth-quarter revenue between $1 billion to $1.04 billion, with non-GAAP diluted earnings per share projected at $1.52 at the midpoint, slightly above the estimate of $1.51 [1] - The company expects a sequential increase of approximately 20% in its mobile business as demand and supply patterns normalize [1] Market Reaction - Following the earnings announcement, Skyworks shares fell by 5.7%, trading at $110.95 [2]