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Skyworks Guidance Cut Due To Huawei Ban

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Skyworks Guidance Cut Due To Huawei Ban

Skyworks Solutions Inc (NASDAQ: SWKS) cut third-quarter guidance citing the impact of the Department of Commerce’s actions against Huawei.

Skyworks cut preliminary third-quarter earnings per share from ~$1.50 to ~$1.34, compared to the $1.50 estimate. Sales have been cut from $815 million-$835 million to $755 million-$775 million, compared to the $826.3 million estimate.

Skyworks said sales to Huawei makeup 12 percent of the company’s total sales.

Skyworks shares ticked slightly higher in Wednesday's pre-market session, trading at $69.92 per share.

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Photo credit: Raimond Spekking via Wikimedia Commons

Posted-In: HuaweiNews Guidance Best of Benzinga

 

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