Why Skyworks Solutions Stock Is Falling After Hours

Skyworks Solutions Inc SWKS shares are trading lower in Thursday's after-hours session. The company reported fiscal fourth-quarter earnings after the bell and issued forward guidance below estimates.

• Q4 Revenue: $1.219 billion beat estimates of $1.216 billion
• Q4 EPS: $2.20 beat estimates of $2.10

Revenue fell by 13.4% year-over-year. Operating cash flow came in at $1.856 billion for the full-year 2023, and free cash flow totaled $1.646 billion, up 76% year-over-year. 

"Skyworks delivered solid results despite macroeconomic headwinds reflecting our resilient business model and operational excellence," said Liam K. Griffin, chairman, president and CEO of Skyworks. 

"In light of the cycle volatility, we continue to make strategic investments in growth areas, expanding our customer base and diversifying the reach of our business."

Outlook: Skyworks sees fiscal first-quarter revenue in the range of $1.175 billion to $1.225 billion versus estimates of $1.29 billion. The company expects adjusted earnings of $1.95 in the first quarter. 

"We expect our mobile business to demonstrate momentum, while in broad markets we expect to continue to digest excess inventory in select segments, affecting our revenue outlook," said Kris Sennesael, senior vice president and CFO of Skyworks.

Check This Out: Apple Delivers Q4 Beat, But Key iPhone Revenue Comes In Shy Of Estimates

SWKS Price Action: Skyworks shares were down 6.07% after hours at $84.07 at the time of writing, per Benzinga Pro.

Photo: 3844328 from Pixabay.