Skyworks (SWKS) Q3 Earnings Meet Estimates, Revenues Down Y/Y
SWKSSkyworks(SWKS) ZACKS·2024-08-01 03:12

Skyworks Solutions (SWKS) reported third-quarter fiscal 2024 non-GAAP earnings of 1.21pershare,inlinewiththeZacksConsensusEstimateanddeclining30.11.21 per share, in line with the Zacks Consensus Estimate and declining 30.1% year over year.Revenues of 905.5 million dropped 15.5% on a year-over-year basis and missed the consensus mark of $913 million.Mobile revenues contributed nearly 61% to total revenues and declined 21% sequentially.Broad markets contributed nearly 39% to total revenues and increased 1% sequentially.Operating DetailsNon-GAAP gross margin contracted 1 ...