IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Skyworks Solutions Inc. (SWKS) on Wednesday reported fiscal first-quarter net income of $162 million.
On a per-share basis, the Irvine, California-based company said it had profit of $1. Earnings, adjusted for one-time gains and costs, were $1.60 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The chipmaker posted revenue of $1.07 billion in the period, matching Street forecasts.
For the current quarter ending in March, Skyworks expects its per-share earnings to be $1.20.
The company said it expects revenue in the range of $935 million to $965 million for the fiscal second quarter.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWKS at https://www.zacks.com/ap/SWKS
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.