Skyworks Records Revenue Growth of 53% for the Second Fiscal Quarter of 2021

Skyworks Solutions, an innovator of high-performance analog semiconductors connecting people, places and things, reported second fiscal quarter results for the period ended Apr. 2, 2021. Revenue for the second fiscal quarter of 2021 was $1.172 billion, up 53% year over year and exceeding consensus estimates. On a GAAP basis, operating income for the second fiscal quarter was $374.7 million with diluted earnings per share of $1.95. On a non-GAAP basis, operating income was $440.1 million with non-GAAP diluted earnings per share of $2.37.

Liam K. Griffin, President and Chief Executive Officer of Skyworks, said that Skyworks’ record second quarter results reflect sustained leadership across a rapidly expanding set of end markets and customers, supported by their cutting-edge technologies and world-class manufacturing facilities. Importantly, their broad markets portfolio continues to gain momentum, with strong sequential and year-over-year growth.

Liam K. Griffin further added that moving forward, their core business combined with their pending acquisition of the Infrastructure and Automotive business of Silicon Labs position Skyworks to capture an outsized portion of the opportunities that lie ahead.

Second fiscal quarter business highlights include:

  • Expanded the reach of our Sky5® portfolio across premium and mid-tier 5G smartphone launches at Samsung, Oppo, Vivo, Xiaomi and other leading OEMs
  • Partnered with NETGEAR to deploy Wi-Fi 6 and 6E routers
  • Launched Wi-Fi 6 gateways at Deutsche Telekom, Nokia and Altice
  • Shipped home security solutions to Xfinity
  • Captured design wins at Google Nest for smart audio devices
  • Delivered cellular IoT modules to Quectel and Gemalto
  • Ramped innovative, new audio platforms powering gaming headsets at Microsoft and Sony
  • Leveraged our wireless infrastructure portfolio to deploy MIMO base stations with Ericsson and Nokia
  • Delivered telematics and infotainment solutions to Volkswagen, LG and GM OnStar

“Based on robust demand for connectivity solutions in mobile and broad markets, we expect continued momentum and year-over-year growth into the June quarter,” said Kris Sennesael, Senior Vice-President and Chief Financial Officer of Skyworks. “Specifically, in the third fiscal quarter of 2021, we anticipate revenue to be between $1.075 billion and $1.125 billion with non-GAAP diluted earnings per share of $2.13 at the midpoint of our revenue range, representing revenue growth of 49% and non-GAAP diluted earnings per share growth of 70%, compared to the third fiscal quarter of 2020.”

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