The following is a summary of the Skyworks Solutions, Inc. (SWKS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Skyworks reported Q3 2024 revenue of $906 million.

• Gross margin was reported at 46%, reflecting ongoing cost-reduction actions and favorable mix shift.

• Operating income was $219 million with a 24% margin.

• The company delivered earnings per share of $1.21.

• Generated free cash flow of $249 million, with year-to-date free cash flow at $1.3 billion, showing a 40% free cash flow margin.

Business Progress:

• Skyworks secured 5G content for premium Android smartphones, including Google Pixel 8a, Samsung Galaxy M, and Oppo Reno12.

• Supported launches of WiFi 7 tri-band routers and access points with NETGEAR, TP-LINK, and Cambium Networks.

• Accelerated design wins in automotive telematics, infotainment, and CV2X.

Opportunities:

• Opportunities in generative AI, leading to a potential smartphone replacement cycle and driving higher RF complexity.

• Strong design win pipeline in automotive and industrial segments, and in edge IoT for WiFi 7 systems.

Risks:

• Elevated inventory levels in traditional data center and wireless infrastructure are prolonging the recovery; impacting the business flow.

More details: Skyworks Solutions IR

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