Home / Finance / Skyworks gives weak preliminary results, cites weakness across largest smartphone customers

Skyworks gives weak preliminary results, cites weakness across largest smartphone customers

Skyworks Solutions issued weak first quarter guidance Tuesday.

The semiconductor company lowered revenue projections to $970 million from $1 billion to $1.02 billion.

“First fiscal quarter results were impacted by unit weakness across our largest smartphone customers,” said Liam K. Griffin, president and chief executive officer of Skyworks, in a statement.

It also lowered its earnings guidance to a range of $1.81 to $1.84 per share, down from from an estimated $1.91 per share.

The company is a supplier to Apple, which experienced weaker-than-expected sales in China and lowered its quarterly revenue guidance. It now expects revenue to be $84 billion, down from the estimated range of $89 billion to $93 billion.

In November, Citigroup downgraded Skyworks Solutions to neutral from buy.

The company will host a conference call on Feb. 5, 2019 at 5 p.m. EST.


This story is developing. Please check back for updates.


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