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Skyworks: Fiscal 2Q Earnings Snapshot

WOBURN, Mass. (AP) _ Skyworks Solutions Inc. (SWKS) on Thursday reported fiscal second-quarter net income of $214 million.

The Woburn, Massachusetts-based company said it had net income of $1.23 per share. Earnings, adjusted for stock option expense and amortization costs, were $1.47 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The chipmaker posted revenue of $810.4 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $810.6 million.

For the current quarter ending in July, Skyworks expects its per-share earnings to be $1.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.47.

The company said it expects revenue in the range of $815 million to $835 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $834.6 million.

Skyworks shares have increased 35% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $90.79, a fall of nearly 1% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWKS at https://www.zacks.com/ap/SWKS