Investing.com — In pre-market trading on Wednesday, shares of Skyworks Solutions (NASDAQ:SWKS) saw a more than 3% rise following the company's announcement of Q1 earnings that exceeded consensus estimates.
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The positive outcome is attributed to the stabilization of end markets and an increased demand for the chipmaker's products, driven by the growing use of 5G technology.
For Q1, Skyworks reported an EPS of $1.97, outperforming the anticipated $1.95 by analysts. The company's revenue aligned with Wall Street projections, coming in at $1.2 billion.
Moving forward, Skyworks set its revenue expectations for Q2 to range from $1.02B to $1.07B. At the mid-point of this range, the semiconductor solutions provider anticipates non-GAAP diluted EPS of $1.52.
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