Skyworks Solutions Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $267.3 million, or $1.66 per share. This compares with $337.8 million, or $2.02 per share, in last year's third quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $393.6 million or $2.44 per share for the period.

Analysts on average had expected the company to earn $2.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.8% to $1.23 billion from $1.12 billion last year.

Skyworks Solutions Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $267.3 Mln. vs. $337.8 Mln. last year. -EPS (Q3): $1.66 vs. $2.02 last year. -Analyst Estimates: $2.35 -Revenue (Q3): $1.23 Bln vs. $1.12 Bln last year.

-Guidance: Next quarter EPS guidance: $2.90 Next quarter revenue guidance: $1.375 - $1.425 Bln