Irvine-based semiconductor company Skyworks Solutions shares fell 16% after revenue and earnings guidance for the current first fiscal quarter missed analysts’ estimates.
Skyworks said today it expects first-quarter revenue to be between $1.8 billion and $1.9 billion, including results from acquired rival Qorvo, which is below the $2 billion estimate.
Fourth-quarter earnings of $1.05 billion and adjusted EPS of $1.28, also reported today, were both above analysts’ expectations.
It was the first earnings release after Skyworks acquired smaller rival Qorvo.
“Today marks a new chapter for Skyworks,” said Phil Brace, chief executive officer and president of Skyworks. “Combining with Qorvo gives us the scale and the technology breadth to lead the next era of wireless, as AI moves from the infrastructure to the devices, vehicles and machines around us.”
