Skyworks Solutions, an innovator of high-performance analog semiconductors connecting people, places and things, reported third fiscal quarter results for the period ended July 1, 2022. Revenue for the third fiscal quarter of 2022 was $1.233 billion, up 10% year over year, exceeding consensus estimates. On a GAAP basis, operating income for the third fiscal quarter was $325.8 million with diluted earnings per share of $1.66. On a non-GAAP basis, operating income was $439.7 million with non-GAAP diluted earnings per share of $2.44.
“Skyworks’ resilient business model and disciplined execution enabled us to deliver record third quarter revenue and non-GAAP earnings per share,” said Liam K. Griffin, Chairman, Chief Executive Officer and President of Skyworks. “Years of targeted investments in next-generation technologies, exceptional technical talent and world-class internal fabrication capabilities position us to accelerate our leadership across market-critical solutions.”
Liam continued “Importantly, our increasing content reach in automotive, data center, infrastructure and other diversified sectors is generating solid momentum going into the second half of calendar 2022. Leveraging a wide array of premium products, our engagements with the industry’s most impactful customers are resulting in unparalleled connectivity spanning an ever-expanding set of applications and markets.”
Third Fiscal Quarter Business Highlights:
- Delivered Sky5® platforms to leading 5G smartphone OEMs, including flagship and mid-tier launches at Google and Samsung, among others
- Powered Wi-Fi 6E, tri-band enterprise access points at Cisco
- Shipped into Orange’s Livebox 6 Gateway, Europe’s first carrier-grade Wi-Fi 6E platform
- Launched 5G solutions with Verizon for their integrated Wi-Fi and cellular internet gateways
- Supported Google’s Pixel Watch with their proprietary cellular, GPS, Wi-Fi and Bluetooth technologies
- Captured multiple design wins at top European equipment and service providers fueling 5G massive MIMO deployments
- Delivered timing solutions to market leaders in cloud computing and network infrastructure
- Developed integrated modules for high-power industrial and IoT applications supporting a prominent brand in smart energy
- Ramped next-generation wireless and EV power technology at multiple top 10 automotive OEMs
- Leveraged our automotive timing solutions with a market-leading robotaxi and driverless vehicle provider
Fourth Fiscal Quarter 2022 Outlook
“We expect double-digit sequential revenue and earnings growth in the September quarter,” said Kris Sennesael, Senior Vice President and Chief Financial Officer of Skyworks. “Specifically, in the fourth fiscal quarter of 2022, we anticipate revenue to be between $1.375 billion and $1.425 billion with non-GAAP diluted earnings per share of $2.90 at the midpoint of our revenue range, representing sequential revenue and non-GAAP diluted earnings per share growth of 14% and 19%, respectively. In addition, given our conviction in Skyworks’ strategic outlook and strong cash flow generation, we are announcing another substantial increase to our quarterly dividend.”
