Skyworks Solutions Slips 4% As Q3 Revenue Outlook Below View
Shares of semiconductor company Skyworks Solutions, Inc. (SWKS) are down more than 4% Tuesday morning after the company’s third-quarter revenue outlook stood below analysts’ view.
Skyworks expects third-quarter revenue to be in the range of $1.050 billion- $1.090 billion. The average estimate of analysts polled by Thomson-Reuters stands at $1.15 billion.
Net profit in the second quarter declined to $232.8 million, or $1.46 per share from $305.8 million, or $1.86 per share a year ago. Excluding items, earnings were $323.1 million or $2.02 per share, in line with the consensus estimates.
Revenue for the quarter fell 13.5% to $1.15 billion from $1.33 billion last year.
SWKS, currently at $100.07, has traded in the range of $76.16-$123.69 in the last 1 year.
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