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Skyworks Solutions, Inc. stock price
Skyworks Solutions, Inc. latest news:
Skyworks Solutions Inc. Continues to Ride the Connectivity Boom
Ramping demand for mobile and Internet of Things products enabled Skyworks to produce record quarterly results.
Skyworks Solutions slips despite earnings beat
Skyworks Solutions Inc. stock dipped in late trading Monday despite beating earnings expectations in wrapping up its fiscal year. Skyworks reported fourth-quarter net income of $281.3 million, or $1.51 a share, on sales of $984.6 million, up from $835.4 million a year ago. After adjustments for stock-based compensation and other effects, the company reported earnings of $1.82 a share, up from $1.47 a share in the same period last year. On average, analysts expected Skyworks to report adjusted earnings of $1.75 a share on sales of $980.2 million. The company's guidance for the first quarter of the 2018 fiscal year was in line with analysts' expectations, calling for adjusted earnings of $1.91 a share on sales of $1.05 billion. Shares fell more than 3.5% in late trading, moving close to $112 after closing with a 2.8% gain at $116.33, in an earnings season that has beenoccasionally brutal to chip makers who don't post big earnings beats. Skyworks stock had gained 55.8% this year through Monday's close, while the S&P 500 index had gained 15.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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