Skyworks Revenue Jumps 20% in 2017 Third Fiscal Quarter
Revenue for the third fiscal quarter was $900.8 million, up 20% compared to the previous year’s fiscal third quarter and exceeding consensus estimates.
Skyworks Solutions, Inc. recently reported third fiscal quarter results for the period ending June 30, 2017. Revenue for the third fiscal quarter was $900.8 million, up 20% compared to the previous year’s fiscal third quarter and exceeding consensus estimates. On a GAAP basis, operating income for the third fiscal quarter of 2017 was $304.8 million with diluted earnings per share of $1.32. On a non-GAAP basis, operating income was $333.1 million with non-GAAP diluted earnings per share of $1.57, up 27% compared to the 2016 fiscal third quarter and $0.05 better than consensus estimates.
“Skyworks exceeded top- and bottom-line expectations in the third fiscal quarter of 2017,” said Liam K. Griffin, president and CEO. “Our outperformance is being driven by global demand for Skyworks’ highly integrated and ultra-efficient connectivity engines. As system-level complexity and performance requirements intensify across mobile and Internet of Things ecosystems, we are extending our product reach and capturing more content per platform. Further, we are well-positioned to capitalize on the rapidly approaching 5G technology wave, enabling new markets from autonomous vehicles to emerging segments in artificial intelligence, robotics and virtual reality.”
“Given our design win momentum and new product pipeline, we intend to sustainably outpace growth in our addressable markets,” said Kris Sennesael, senior vice president and chief financial officer. “For the fourth fiscal quarter of 2017, we expect revenue to be up 17% year-over-year with further gross and operating margin expansion. Specifically, we plan to deliver record financial results with revenue of $980 million and non-GAAP diluted earnings per share of $1.75.”
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