Skyworks forecasts third-quarter revenue below estimates

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Skyworks forecasts third-quarter revenue below estimates
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Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotia - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip company forecasts revenue of $900 million, plus or minus 2%, in the third quarter, below analysts' average estimate of $1.02 billion, according to LSEG data.

Global smartphone shipments increased 7.8% to 289.4 million units during January-March, with Samsung, at 20.8% market share, clinching the top phonemaker spot from Apple, data from research firm IDC showed earlier in April. Apple's smartphone shipments dropped about 10% in the first quarter of 2024, according to IDC. Skyworks' revenue for the quarter ended March 29 was $1.05 billion, in line with analyst estimates.

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