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Nov. 12, 2019, 6:38 p.m. EST · CORRECTED

Skyworks Solutions shares slip 4% on big drop in revenue

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By Jon Swartz

This update corrects the EPS estimate for fourth quarter.

Skyworks Solutions Inc. /zigman2/quotes/201417573/composite SWKS +1.38% shares slipped 4% in after-hours trading Tuesday after the semiconductor company reported a big drop in fourth-quarter revenue year-over-year. Skyworks reported net income of $210.6 million, or $1.22 a share, compared with net income of $285.5 million, or $1.58 in the year-ago period. Adjusted for one-time items, the company reported earnings of $1.52 a share, compared with $1.94 a share a year ago. Revenue plunged 22% to $827.4 million from $1 billion a year ago. Analysts surveyed by FactSet had expected adjusted earnings of $1.50 a share on revenue of $825 million. Skyworks shares are up 51% this year. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.91% has gained 23% this year.

/zigman2/quotes/201417573/composite
US : U.S.: Nasdaq
$ 101.36
+1.38 +1.38%
Volume: 1.81M
Dec. 6, 2019 4:00p
P/E Ratio
20.76
Dividend Yield
1.74%
Market Cap
$17.27 billion
Rev. per Employee
$402,989
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/zigman2/quotes/210599714/realtime
US : S&P US
3,145.91
+28.48 +0.91%
Volume: 1.70B
Dec. 6, 2019 5:07p
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