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Skyworks Solutions Inc (NASDAQ: SWKS) gained more than 6 percent in pre-market action Tuesday after the company told investors its fiscal fourth-quarter profits will be higher than expected.
The maker of semi-conductors used in mobile phones said multi-year trends in its business helped results.
"These are are setting the stage for us to outperform the broader semiconductor industry in the December quarter and for the foreseeable future," Chief Executive David J. Aldrich said in a statement.
Skyworks said it will post fiscal fourth-quarter earnings of $1.08 on revenue of $718 million, up from its previous forecast of $1 per share on revenue of $680 million.
Analysts expected adjusted earnings of $1.01 per share on revenue of $679.45 million when the company posts full results Novomber 6.
Skyworks faltered last week but traded recently in Tuesday's pre-market session at $48.26, up 6.5 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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