Apple iPhone supplier Skyworks revenue jumps 51 percent, forecasts better-than-expected revenue

“Radio frequency chip supplier Skyworks Solutions Inc forecast better-than-expected revenue in the current quarter, helped by increased demand from smartphone makers, particularly Apple Inc.,” Reuters reports. “Radio frequency chip supplier Skyworks Solutions Inc reported a 51 percent jump in quarterly revenue, helped by high demand for smartphones such as Apple Inc’s iPhones.”

“Apple and Skyworks do not talk about their business relationship, but gadget repair firm iFixit said in September that iPhone 6 Plus uses chips made by Skyworks, among other companies, after prying open one of the devices,” Reuters reports. “Skyworks, whose clients include Samsung Electronics Co Ltd, forecast an adjusted profit of $1.18 per share and revenue of $770 million for the quarter ending December. Analysts on average were expecting a profit of $1.08 per share on revenue of $737.7 million, according to Thomson Reuters I/B/E/S.”

“Net income rose to $174.9 million, or 90 cents per share, for the fourth quarter ended Oct. 3 from $84.2 million, or 44 cents per share, a year earlier. On an adjusted basis, the company earned $1.12 per share,” Reuters reports. “Skyworks, whose chips connect smartphones and tablets to a telecom network, said revenue rose to $718.2 million from $477 million.”

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