- Q1 Revenue: $1.33 billion in line with estimates
- Q1 EPS: $2.59 missed estimates of $2.61
"Moving forward, Skyworks is well positioned to navigate a challenging macro backdrop with its highly profitable business model, leading connectivity technologies and an expanding set of customers across many of the strongest market segments," said Liam Griffin, chairman, president and CEO of Skyworks.
Outlook: Skyworks expects fiscal second-quarter revenue to be between $1.125 billion and $1.175 billion versus estimates of $1.19 billion. The company sees second-quarter adjusted earnings of $2.02 per share at the midpoint versus estimates of $2.24 per share.
See Also: Why BP Stock Is Rising Tuesday Morning
Analyst Assessment: Multiple analysts raised price targets on Skyworks shares following the company's report.
SWKS Price Action: Skyworks has a 52-week high of $145.82 and a 52-week low of $76.16.
The stock was up 4.44% at $114.13 at the time of writing, according to Benzinga Pro.
Photo: Tom from Pixabay.
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