Shares in Skyworks Solutions Inc (NASDAQ:SWKS) soared in pre-market trading on Friday after the semiconductor manufacturer beat Wall Street forecasts with its latest quarterly results.
The Woburn, Massachusetts-based group reported earnings of US$1.61 per share on revenues of US$914mln for the three months to December, better than the US$1.58 per share and US$902mln consensus forecasts.
The strong performance wasn’t limited to last quarter either, with Skyworks – which supplies its tech to the likes of Apple – upping its guidance for the current quarter.
It now expects to deliver earnings per share of US$1.40 on revenues of US$840mln, versus analysts’ prior predictions of US$1.39 per share and US$818mln.
The group also announced a US$500mln share buyback programme.
Given the upbeat December quarter from another of Apple’s suppliers, it will be interesting to see how the tech giant itself fared when it releases its quarterly figures later this month.
Shares in Skyworks were up more than 7% to US$84.36 in pre-market trading.