Skyworks Solutions, Inc. SWKS shares are trading lower in the after-hours session Monday after reporting third-quarter earnings. Here's a look at the details.
What To Know: The company reported quarterly earnings of $1.73 per share which beat the analyst consensus estimate of $1.67, representing a 29.1% decrease over earnings of $2.44 per share from the same period last year. The company reported quarterly sales of $1.07 billion which met the analyst consensus estimate and represented a 13.12% decrease over sales of $1.23 billion in the same period last year.
The company generated quarterly operating cash flow of $305.7 million and record year-to-date operating cash flow of $1.491 billion.
Skyworks issued guidance as well, anticipating fourth-quarter earnings of $2.10 per share at the midpoint versus the estimate of $2.11. The company sees revenue between $1.19 billion and $1.24 billion versus the estimate of $1.22 billion.
"Skyworks' resilient business model and disciplined execution enabled us to deliver record operating and free cash flow for the first three quarters of the fiscal year," said Liam K. Griffin, chairman, CEO and president of Skyworks. "Our targeted investments in next-generation technologies are generating solid momentum going into the second half of calendar year 2023."
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SWKS Price Action: Shares of SWKS were down 1.37% at $108.66 in after-hours trading at the time of publication, according to Benzinga Pro.
Image by Willfried Wende from Pixabay
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