SWKS · Skyworks Solutions, Inc.

Skyworks delivered Q2 FY2026 results marked by revenue of $944 million — slightly below prior-year levels but above the high end of management’s guidance range — driven by outperformance in Mobile and accelerating Broad Markets growth. Gross profit declined modestly YoY to $385.3 million (40.8% GAAP gross margin), while operating income fell sharply to $42.1 million (4.5% GAAP operating margin), reflecting elevated R&D ($212.4M) and SG&A ($119.7M) investments, partially offset by lower restructuring charges. Non-GAAP operating income stood at $188.9 million (20.0% margin), still down YoY from $222.2 million, indicating persistent cost pressures despite scale. Management attributed strength to healthy Mobile demand and Broad Markets’ double-digit YoY growth — highlighted across Wi-Fi 7, automotive (BYD and German Tier-1), data center, and timing solutions — with Broad Markets projected to represent ~43% of Q3 sales. The $1B+ Android OEM design win signals durable long-term revenue visibility, though monetization is phased through 2030. Forward guidance for Q3 ($900–950M revenue, $1.03 non-GAAP EPS mid-point) reflects seasonal Mobile softness and modest sequential Broad Markets growth. The reaffirmed $0.71 dividend underscores ongoing capital return discipline amid strategic investment and pending integration considerations related to the proposed Qorvo transaction, which remains subject to regulatory approvals and other closing conditions noted in the Safe Harbor statement.