Skyworks tops quarterly estimates on strong chip demand; unveils post-Qorvo deal leadership
SWKS•Broader operating trends
The Irvine, California-based company designs and manufactures analog and mixed-signal chips and has benefited from trends like WiFi 7 adoption, connected vehicles and AI-driven upgrades.
Qorvo combination leadership plans
Separately, Skyworks and Qorvo announced the expected executive leadership team for the combined company.
"We are now optimistic that we can close within the calendar year, and we will be preparing to close as early as within the fiscal year," said Skyworks CEO Phil Brace, who will lead the combined company.
Philip Carter will serve as the chief financial officer and Bob Bruggeworth, the current CEO of Qorvo, will join the board of the combined company.
Fourth-quarter outlook and capital return changes
It forecast fourth-quarter revenue between $1.01 billion and $1.06 billion, compared with analysts' estimate of $1.02 billion, according to data compiled by LSEG.
Skyworks expects adjusted profit of $1.27 per share for the quarter ending September 30, just shy of the estimate of $1.28.
The chipmaker said it would not declare any quarterly dividends and channel that capital toward higher-return uses while announcing a new to replace the current program expiring in February 2027.
