Skyworks stock falls after results, outlook top Street view


Skyworks Solutions Inc.
SWKS,
+1.40%
shares dropped in the extended session Thursday even after the semiconductor-component company’s results and outlook topped Wall Street estimates. Skyworks shares fell 5% after hours, following a 2.4% rise in the regular session to close at $196.67. The company reported fiscal third-quarter net income of $337.8 million, or $2.02 a share, compared with $129.7 million, or 77 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $2.15 a share, compared with $1.25 a share in the year-ago period. Revenue rose to $1.12 billion from $736.8 million in the year-ago quarter. Analysts had forecast $2.14 a share on revenue of $1.11 billion. Skyworks forecast adjusted earnings of about $2.53 a share should revenue fall in the midpoint of its estimated revenue range of $1.27 billion to $1.33 billion for the fiscal fourth quarter. Analysts surveyed by FactSet had estimated $2.47 a share on revenue of $1.23 billion.


View more information: https://www.marketwatch.com/story/skyworks-stock-falls-after-results-outlook-top-street-view-11627597158

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See also  https://www.marketwatch.com/story/june-2021-report-on-global-cyanomethane-cas-75-05-8-market-overview-size-share-and-trends-2021-2026-2021-06-08

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