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Jun 28, 2024
Skyworks Q3 2024 Earnings Report
Skyworks reported solid Q3 FY24 results with strong profitability, driven by mobile business ramping up and broad markets business recovering.
Key Takeaways
Skyworks Solutions, Inc. reported Q3 FY24 revenue of $906 million. GAAP diluted EPS was $0.75, and non-GAAP diluted EPS was $1.21. The company's mobile business is ramping up, and the broad markets business is recovering.
Delivered Revenue of $906 Million
Posted GAAP Diluted EPS of $0.75 and Non-GAAP Diluted EPS of $1.21
Increased Quarterly Dividend by 3% to $0.70 Per Share
Mobile business is ramping up while broad markets business continues to recover
Forward Guidance
For the September quarter, Skyworks expects revenue to be $1.00 billion to $1.04 billion with non-GAAP diluted earnings per share of $1.52 at the mid-point of the revenue range.
Positive Outlook
- Mobile business to be up approximately 20% sequentially, as demand and supply patterns appear to be normalizing.
- In broad markets, expects modest improvement, representing three consecutive quarters of sequential growth.
- Solid capital structure
- Strong year-to-date cash flow generation
- Announcing another increase to our quarterly dividend.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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