Skyworks Solutions, a leading semiconductor company, has revealed financial result for its second fiscal quarter ended March 29, 2024.
Revenue for the second fiscal quarter of 2024 was $1.046 billion. Operating income for the second fiscal quarter was $189.2 million with diluted earnings per share of $1.14.
Second Fiscal Quarter Business Highlights
Skyworks Solutions delivered platforms to 5G smartphone OEMs, including flagship and mid-tier launches at Samsung, Google and Oppo.
Expanded design win pipeline and initiated programs in automotive, including infotainment systems, traction inverters, cloud-enhanced driver-assist and CV2X on-board units.
Secured several audio SoC design wins for wireless gaming and soundbars with PlayStation and Samsung
“During the March quarter, in our mobile business, we saw below normal seasonal trends, with lower-than-expected end market demand. We intend to leverage our connectivity technology across edge-connected IoT devices, automotive electrification and advanced safety systems, and AI infrastructure,” said Liam K. Griffin, chairman, chief executive officer and president of Skyworks.
Skyworks Solutions is expecting revenue of $900 million for the June quarter.
“We expect our mobile business to be down sequentially, below normal seasonal patterns, as excess inventory clears. In broad markets, we anticipate further modest growth as inventory levels appear to be normalizing in certain end markets,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks.
