Skyworks' (SWKS) Q1 Earnings Beat Estimates, Revenues Down Y/Y

Skyworks Solutions (SWKS) reported first-quarter fiscal 2024 non-GAAP earnings of $1.97 per share, comfortably beating the Zacks Consensus Estimate by 1.03% and declining 23.9% year over year.Revenues of $1.20 billion dropped 9.6% on a year-over-year basis and missed the consensus mark by 0.19%.Mobile revenues contributed nearly 71% to total revenues and increased 7% sequentially.SWKS made investments in product development, particularly focusing on highly integrated platforms for leading mobile Original Eq ...