Skyworks Solutions Beats Q2 Views
Skyworks Solutions, Inc. (ticker symbol SWKS) is an innovator of high reliability analog and mixed signal semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and mobile handset applications. Not well known to consumers, the maker of wireless chips used to help manage power usage in 3G and 4G smartphones from HTC, Sony Ericsson, Samsung and others reported its’ fiscal Q2 financial results late Thursday.
Skyworks’ Q2 profit rose 71% to 41 cents a share, 2 cents above estimates. Revenue rose 37% for a third straight quarter to $325.4 million, also topping analyst forecasts. The company sees Q3 EPS of 46 cents on sales of $345 million, both above Wall Street targets of 43 cents profit and $335 million in sales.
The stock price, which has so far bucked the overall market uptrend this year and has slumped over 30% in the past two months, surged nearly 14% in after hours trading today, rising to $31.27 from its’ $27.51 close at the end of the regular market session.
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