Press release
Skyworks Reports Q3 FY24 Results
Delivers Revenue of $906 Million Posts GAAP Diluted EPS of $0.75 and Non-GAAP Diluted EPS of $1.21 Year-to-Date Operating Cash Flow of $1.35 Billion and Free
About this update from Skyworks Solutions, Inc.
[{"type":"text","content":"\n\nDelivers Revenue of $906 Million\n\n\n\nPosts GAAP Diluted EPS of $0.75 and Non-GAAP Diluted EPS of $1.21\n\n\n\nYear-to-Date Operating Cash Flow of $1.35 Billion and Free Cash Flow of $1.27 Billion; 43% Operating Cash Flow Margin and 40% Free Cash Flow Margin\n\n\n\nIncreases Quarterly Dividend by 3% to $0.70 Per Share\n\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nSkyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, today reported third fiscal quarter results for the period ended June 28, 2024.\n\n\nRevenue for the third fiscal quarter of 2024 was $906 million. On a GAAP basis, operating income for the third fiscal quarter was $130 million with diluted earnings per share of $0.75. On a non-GAAP basis, operating income was $219 million with non-GAAP diluted earnings per share of $1.21.\n\n\n“Skyworks generated solid results and strong profitability consistent with our guidance,” said Liam K. Griffin, chairman, chief executive officer and president of Skyworks. “Exiting the June quarter, our mobile business is ramping up while our broad markets business continues to recover. Over the medium-to-long-term, we expect generative AI applications will migrate to the edge, including the smartphone, driving a meaningful replacement cycle and leading to higher levels of RF complexity.”\n\n\nThird Fiscal Quarter Business Highlights\n\n\n\nSecured 5G content for premium Android smartphones including Google Pixel 8a, Samsung Galaxy M, Oppo Reno12 and several others\n\n\n\nSupported the launches of Wi-Fi 7 tri-band routers and access points with NETGEAR, TP-Link and Cambium Networks\n\n\n\nAccelerated our design win pipeline in automotive, including telematics, infotainment and CV2X\n\n\n\nFourth Fiscal Quarter 2024 Outlook\n\n\nWe provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this earnings release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.\n\n\n“For the September quarter, we expect revenue to be $1.00 billion to $1.04 billion wit...