Skyworks Solutions, an innovator of high-performance analog semiconductors connecting people, places and things, reported second fiscal quarter results for the period ended April 1, 2022. Revenue for the second fiscal quarter of 2022 was $1.336 billion, up 14% year over year, exceeding consensus estimates. On a GAAP basis, operating income for the second fiscal quarter was $367.3 million with diluted earnings per share of $1.86. On a non-GAAP basis, operating income was $490.9 million with non-GAAP diluted earnings per share of $2.63.
“Skyworks delivered record second quarter results, with double-digit year-over-year growth in both revenue and non-GAAP earnings per share,” said Liam K. Griffin, Chairman, Chief Executive Officer and President of Skyworks. “Broad market revenue was particularly strong, driven by accelerating demand for our IoT and automotive solutions, underscoring our continued diversification across the entire Skyworks portfolio. Moving forward, we are well positioned for future growth and robust cash generation, underpinned by industry-leading manufacturing capabilities, continued investment in cutting-edge technologies and design win momentum over an expanding customer set.”
Second Fiscal Quarter Business Highlights
- Shipped Sky5® platforms across the leading 5G smartphone OEMs, including flagship launches at Google and Samsung, among others
- Debuted the industry’s first Wi-Fi 6E gaming router featuring ultra-fast quad band performance
- Partnered with T-Mobile for their integrated 5G home routers
- Powered Comcast’s latest Wi-Fi 6E residential gateways
- Embedded Sky5 technology in rugged mobile computing devices for industrial-grade factory automation and last-mile delivery
- Delivered next-generation wireless technology to multiple top 10 automotive OEMs
- Captured design wins at leading equipment and service providers for 5G macro and small cell deployments
- Provided high-performance clock solutions to Hughes Network Systems, supporting OneWeb’s Low Earth Orbit (LEO) satellite network
- Scaled volume production of timing applications, powering 800G core optical routers at leading data center infrastructure providers
Third Fiscal Quarter 2022 Outlook
“Despite recent pandemic-related supply chain disruptions, we expect double-digit year-over-year revenue and earnings growth in the June quarter,” said Kris Sennesael, Senior Vice President and Chief Financial Officer of Skyworks. “Specifically, in the third fiscal quarter of 2022, we anticipate revenue to be between $1.200 billion and $1.260 billion with non-GAAP diluted earnings per share of $2.36 at the midpoint of our revenue range, representing revenue and non-GAAP diluted earnings per share growth of 10% compared to the third fiscal quarter of 2021.”
