Skyworks Solutions Reports Record Revenue for Q3 2023 Amid Growing 5G Content and Technology Adoption

Skyworks Solutions, a leading supplier of analog and mixed-signal semiconductors, announced a remarkable achievement with its third fiscal quarter results ending on June 30, 2023. The company reported a staggering revenue of $1.071 billion, marking a significant milestone for the organization.
Skyworks SolutionsIrvine, California-based Skyworks Solutions’ stellar financial performance was highlighted by an operating income of $230.7 million, demonstrating the company’s robust and resilient business model. Diluted earnings per share were recorded at $1.22, showcasing the company’s strong financial standing.

Liam K. Griffin, chairman, chief executive officer, and president of Skyworks, expressed his satisfaction with the company’s performance, stating, “Skyworks’ resilient business model and disciplined execution enabled us to deliver record operating and free cash flow for the first three quarters of the fiscal year. Our targeted investments in next-generation technologies are generating solid momentum going into the second half of calendar year 2023.”

One of the key factors contributing to Skyworks Solutions’ success has been its strategic partnerships in the 5G market. The company has secured 5G content deals with major players in the Android smartphone industry, including Google, Samsung, Oppo, Vivo, and Xiaomi. This achievement emphasizes Skyworks’ dedication to establishing a strong presence in the fast-evolving 5G landscape.

Moreover, Skyworks Solutions has made significant contributions to the advancement of 5G technology. The company delivered Sky5 platforms for prominent North American carriers’ 5G customer premise equipment, further solidifying its position as a leading supplier in the 5G ecosystem.

Additionally, Skyworks said it supported the launches of Wi-Fi 7 tri-band routers with well-known brands NETGEAR and TP-Link, as well as powered Bell’s Wi-Fi 6E Giga Hub home gateway, showcasing their diverse range of offerings across various technology domains.

Skyworks Solutions’ impact extends to the audio and telecommunications industries, where the company provided 5 GHz cognitive wireless audio system-on-chip solutions for Samsung Q-Symphony soundbars.

Furthermore, Skyworks enabled 5G small cell deployments in collaboration with a top North American operator, a testament to their commitment to driving the expansion of 5G infrastructure.

The company’s efforts have not been limited to the telecommunications sector; it has also ventured into emerging technologies. Skyworks Solutions ramped timing solutions for AI data centers at a leading cloud provider, demonstrating its versatility in catering to a wide range of technology applications. Additionally, the company captured designs for telematics applications at domestic and China-based original equipment manufacturers (OEMs) and leveraged its power isolation portfolio with a leading electric vehicle (EV) supplier.

Looking ahead, Skyworks Solutions is poised for continued growth in the fourth fiscal quarter of 2023. The company anticipates revenue to be in the range of $1.190 billion and $1.240 billion. Kris Sennesael, senior vice president, and chief financial officer of Skyworks expressed confidence in the future outlook, stating, “We expect double-digit sequential revenue and earnings growth in the September quarter.”

With a focus on cutting-edge technologies, strategic partnerships, and a strong financial performance, Skyworks Solutions appears well-positioned to maintain its momentum and further establish its leadership position in the semiconductor industry.