Workflow
Skyworks Solutions (SWKS) Q3 Earnings Match Estimates
SWKSSkyworks(SWKS) ZACKS·2024-07-30 22:11

Group 1 - Skyworks Solutions reported quarterly earnings of 1.21pershare,matchingtheZacksConsensusEstimate,butdownfrom1.21 per share, matching the Zacks Consensus Estimate, but down from 1.73 per share a year ago [1] - The company posted revenues of 905.5millionforthequarterendedJune2024,exceedingtheZacksConsensusEstimateby0.54905.5 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.54%, compared to 1.07 billion in the same quarter last year [1] - Over the last four quarters, Skyworks has surpassed consensus EPS estimates three times and revenue estimates two times [1] Group 2 - Skyworks shares have increased approximately 4.4% since the beginning of the year, while the S&P 500 has gained 14.5% [2] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for stock performance [2] - The current consensus EPS estimate for the upcoming quarter is 1.48onrevenuesof1.48 on revenues of 1.02 billion, and for the current fiscal year, it is 6.21onrevenuesof6.21 on revenues of 4.18 billion [4] Group 3 - The Zacks Industry Rank for Semiconductors - Radio Frequency is in the top 8% of over 250 Zacks industries, indicating strong industry performance potential [4] - The estimate revisions trend for Skyworks is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market [3]