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Mar 31, 2023

Skyworks Q2 2023 Earnings Report

Delivered revenue of $1.153 billion, GAAP diluted EPS of $1.46, and non-GAAP diluted EPS of $2.02, with quarterly operating cash flow of $411.7 million.

Key Takeaways

Skyworks Solutions, Inc. reported second fiscal quarter results for the period ended March 31, 2023. Revenue for the second fiscal quarter of 2023 was $1.153 billion. On a GAAP basis, operating income for the second fiscal quarter was $273.3 million with diluted earnings per share of $1.46. On a non-GAAP basis, operating income was $386.1 million with non-GAAP diluted earnings per share of $2.02.

Delivered Sky5® platforms supporting Samsung’s premium and mass tier smartphone launches

Enabled enhanced Power-over-Ethernet functionality with Cisco for enterprise networks

Launched tri-band, Wi-Fi 6E and Wi-Fi 7 gateways for CommScope and ASUS

Secured 5G platforms with a market leader in mobile computing

Total Revenue
$1.15B
Previous year: $1.34B
-13.7%
EPS
$2.02
Previous year: $2.63
-23.2%
Gross Profit
$527M
Previous year: $638M
-17.3%
Cash and Equivalents
$833M
Previous year: $656M
+26.8%
Free Cash Flow
$366M
Previous year: $266M
+37.7%
Total Assets
$8.84B
Previous year: $8.51B
+3.9%

Skyworks

Skyworks

Forward Guidance

Looking ahead to our third fiscal quarter of 2023, we anticipate revenue to be between $1.050 billion and $1.090 billion with non-GAAP diluted earnings per share of $1.67 at the midpoint of our revenue range.