Skyworks Solutions Inc

Skyworks Solutions delivered a standout fiscal third quarter, posting non-GAAP diluted EPS of $1.08 against a consensus estimate of $0.65, a beat of 66.15% that extended the chipmaker's streak of topping Wall Street expectations to five consecutive quarters. Revenue of $934.80 million declined 3.1% year-over-year, reflecting ongoing softness across the semiconductor landscape, yet the topline held closer to expectations than the earnings gap might suggest. The sharper margin compression, with non-GAAP gross margin contracting to 44.9% from 47.1% a year ago, was tied partly to a $133.30 million inventory build that also weighed heavily on operating cash flow, which fell to $70.40 million from $314.10 million in the prior-year period. The strategic spotlight remained firmly on the pending Qorvo combination, with management targeting a close within calendar 2026 and announcing roughly $2.00 billion in acquisition financing alongside a new $2.00 billion buyback program and the elimination of the quarterly dividend. Looking ahead, Skyworks guided Q4 revenue of $1.01 billion to $1.06 billion, with non-GAAP EPS of $1.27 at the midpoint, supported by an expected high-teens sequential mobile ramp tied to seasonal product launches at its largest customer.