Apple supplier Skyworks Solutions forecast fourth-quarter revenue and profit above Wall Street expectations on Tuesday, benefiting from steady demand for its analog chips.
Reuters:
Demand for Skyworks’ chips has remained strong, supported by their applications across industries such as automotive and mobile…
“We’re encouraged by the momentum in mobile and steady strength across our broad markets, driven by long-term growth trends in edge IoT, automotive and data center,” CEO Phil Brace said.
Skyworks designs and manufactures analog and mixed-signal chips used in wireless communication, automotive, industrial and consumer electronics.
Skyworks forecast fourth-quarter revenue between $1 billion and $1.03 billion, compared with analysts’ estimates of $887.4 million, according to data compiled by LSEG.
The company expects fourth-quarter adjusted earnings per share of $1.40, ahead of analysts’ expectations of 97 cents per share.
MacDailyNews Note: For the third quarter ended June 27, Skyworks reported revenue of $965 million, beating the analysts’ consensus expectation of $940.9 million.
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