During after-hours trading, SWKS stock declined 5.6% to 186.65. It had gained 2.4% in the regular session. Skyworks late Thursday reported third-quarter earnings that topped Wall Street expectations, but its shares fell after hours. For the current quarter, the company forecast adjusted earnings of $2.15 a share to $2.53 a share. It expected revenue of about $1.27 billion to $1.33 billion.
For the third fiscal quarter of 2021, revenue was up 52% year over year. Operating income was up 52% year over year and exceeded consensus estimates. Skyworks’ third quarter 2021 results were strong, with revenue and earnings per share both increasing year-over-year. The rapid emergence of 5G across various end markets is accelerating the adoption of this new technology. With Skyworks’ long-term relationships and expertise in this field, we are well-equipped to address the diverse needs of the marketplace.
With continued robust demand for mobile connectivity solutions, Skyworks (SWK) is expecting another strong year-on-year growth in its September quarter. For the fourth fiscal quarter of 2021, Skyworks expects revenue to be in the range of $1.270 billion to $1.330 billion, with non-GAAP diluted earnings per share of $2.53.
Finance and Entertainment Reporter
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