Skyworks tops quarterly estimates on strong chip demand; unveils post-Qorvo deal leadership

Qorvo

28/07/2026 22:48

July 28 - Chipmaker Skyworks Solutions SWKS.O beat Wall Street expectations for third-quarter results on Tuesday, driven by demand for its radio-frequency chips used in smartphones.
Skyworks shares were down 12.8% in extended trading.

Here are some details:
The company, a key supplier to Apple's 5G iPhones, has benefited from growing demand for the premium smartphone, especially the latest model iPhone 17.
It forecast fourth-quarter revenue between $1.01 billion and $1.06 billion, compared with analysts' estimate of $1.02 billion, according to data compiled by LSEG.
Skyworks expects adjusted profit of $1.27 per share for the quarter ending September 30, just shy of the estimate of $1.28.
The chipmaker said it would not declare any quarterly dividends and channel that capital toward higher-return uses while announcing a new $2 billion share buyback plan to replace the current program expiring in February 2027.
The Irvine, California-based company designs and manufactures analog and mixed-signal chips and has benefited from trends like WiFi 7 adoption, connected vehicles and AI-driven upgrades.
The company reported third-quarter revenue of $935 million, compared with estimates of $920.3 million. Adjusted profit of $1.08 per share topped estimates of $1.02.
Separately, Skyworks and Qorvo announced the expected executive leadership team for the combined company.
"We are now optimistic that we can close within the calendar year, and we will be preparing to close as early as within the fiscal year," said Skyworks CEO Phil Brace, who will lead the combined company. 
Philip Carter will serve as the chief financial officer and Bob Bruggeworth, the current CEO of Qorvo, will join the board of the combined company.

 (Reporting by Arunesh  Sinha; Editing by Sriraj Kalluvila)
 ((Arunesh.Sinha@thomsonreuters.com;))