Skyworks (SWKS) Q3 Earnings & Revenues Beat, View Tepid
Zacks Investment Research | Aug 07, 2019 09:17PM ET
Skyworks Solutions, Inc. (NASDAQ:SWKS) delivered third-quarter fiscal 2019 non-GAAP earnings of $1.35 per share, beating the Zacks Consensus Estimate by a penny. The reported bottom line figure compares favorably with management’s revised guidance of $1.34 per share at mid-point. However, the figure declined 17.7% from the year-ago quarter.
Revenues of $767 million surpassed the Zacks Consensus Estimate of $766 million. The figure came within management’s revised guidance of $755 million to $775 million. However, the figure decreased 14.2% from the year-ago quarter, primarily owing to decline across mobile business and uncertainty pertaining to Huawei blacklisting.
Mobile contributed almost 63% to revenues, while the rest came from broad markets. Notably, the largest customer contributed 40% to revenues.
Shares Down on Bleak Q4 Guidance
Shares of Skyworks are down 5.5% in the pre-market owing to bleak fourth-quarter guidance.
For fourth-quarter fiscal 2019, revenues are expected to be in the range of $815 million to $835 million. The Zacks Consensus Estimate is pegged at $839.4 million. Uncertainty pertaining to Huawei is keeping management cautious.
Non-GAAP earnings are anticipated to be $1.50 per share at the mid-point. The Zacks Consensus Estimate is pegged at $1.54 billion.
Notably, Skyworks stock has returned 20.4% year to date, outperforming the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.