Skyworks Solutions Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $399.9 million, or $2.40 per share. This compares with $509.3 million, or $3.05 per share, in last year's first quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $522.7 million or $3.14 per share for the period.

Analysts on average had expected the company to earn $3.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $1.51 billion, equal to the mark posted in the same period last year.

Skyworks Solutions Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $399.9 Mln. vs. $509.3 Mln. last year. -EPS (Q1): $2.40 vs. $3.05 last year. -Analyst Estimates: $3.10 -Revenue (Q1): $1.51 Bln vs. $1.51 Bln last year.

-Guidance: Next quarter EPS guidance: $2.62 Next quarter revenue guidance: $1.30 - $1.36 Bln