Apple supplier Skyworks falls after Q2 profit forecast below estimates

Inseego

05/02/2025 22:06

** Shares of chip firm Skyworks Solutions  SWKS.O  tumble
23% to $67.00 in extended trade
    ** The Apple supplier expects Q2 profit below estimates and
decline in revenue across its segments in Q2
    ** Co names former Intel  INTC.O  and Inseego  INSG.O 
executive Philip Brace as its next CEO
    ** Expects Q2 adj EPS of $1.20, below estimates of $1.22
    ** Q2 revenue forecast of $935 million to $965 million,
largely in-line with estimates of $949 mln
    ** Anticipate a mid-to-high teens sequential decline in
mobile, consistent with historical seasonal patterns in Q2 — CFO
Kris Sennesael
    ** In 2024, stock fell 21%

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com))