Shares of Skyworks Solutions (NASDAQ:SWKS) rose 5% in after-hours trading Tuesday after the semiconductor company reported first-quarter earnings per share (EPS) that beat consensus estimates.
Skyworks posted Q1 EPS of $1.97, beating the analysts’ expectations of $1.95. Revenue was reported at $1.2 billion, in line with Wall Street’s projections.
The company reported an operating income of $258.3 million on a GAAP basis, accompanied by diluted earnings per share (EPS) of $1.44. On a non-GAAP basis, the operating income stood at $365.7 million, with the non-GAAP diluted EPS reaching $1.97.
Looking ahead, Skyworks expects revenue to be in the range of $1.02 billion to $1.07 billion in the March quarter. At the mid-point of this range, the semiconductor solutions provider anticipates non-GAAP diluted EPS of $1.52.
“Skyworks continues to execute well and generate robust profitability in light of ongoing macroeconomic volatility,” said the company’s CEO and President, Liam K. Griffin.
“We delivered record quarterly free cash flow of $753 million, which reflects strong working capital management and moderating capex intensity. We are seeing signs that the Android smartphone market is recovering.”