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Skyworks Solutions (SWKS) Posts Q2 Earnings & Revenue Beat

Ryan McQueeney

Skyworks Solutions (SWKS) just released its second-quarter 2017 financial results, posting earnings of $1.33 per share and revenues of $851.7 million.

Currently, SWKS is a Zacks Rank #2 (Buy), but this ranking could be changed based on today’s results. The stock is down 2.58% to $101.51 per share in trading shortly after its earnings report was released.

Skyworks:

Beat earnings estimates. The company posted earnings of $1.33 per share (excluding 13 cents from non-recurring items), beating the Zacks Consensus Estimate of $1.30.

Beat revenue estimates. The company saw revenue figures of $851.7 million, beating our consensus estimate of $840 million.

The company now expects third-quarter revenues of $890 million and non-GAAP diluted earnings of $1.52 per share. These figures would represent growth of 18% and 23%, respectively.

Skyworks declared a cash dividend of $0.28 per share of common stock, payable on June 6, 2017, to stockholders of record at the close of business on May 16, 2017.

“Expanding content gains coupled with successful product ramps across a diverse customer set are enabling Skyworks to demonstrably outpace our addressable markets," said CFO Kris Sennesael

Here’s a graph that looks at Skyworks’ latest earnings performance:

Skyworks Solutions, Inc. Price, Consensus and EPS Surprise

Skyworks Solutions, Inc. Price, Consensus and EPS Surprise | Skyworks Solutions, Inc. Quote

Skyworks Solutions, Inc. is the industry's leading wireless semiconductor company focused on radio frequency (RF) and complete semiconductor system solutions for mobile communications applications.

Check back later for our full analysis on Skyworks’ earnings report!

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