Skyworks Flies Past Q2 Estimates

NEW YORK ( TheStreet) - Skyworks Solutions ( SWKS) comfortably beat Wall Street's estimates in its second-quarter results, released after market close.

The Apple ( AAPL) partner reported revenue of $425.2 million, a 17% improvement on the prior year's quarter, and well above analysts' estimate of $420.34. Excluding items, Skyworks earned 48 cents a share, up from 42 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 47 cents a share.

For the third quarter, Skyworks forecast sales of $435 million and earnings of 53 cents a share, compared to Wall Street's prediction of $443.16 million and 52 cents a share.

Skyworks shares gained 1.95% to reach $22.45 in extended trading.

"As our better than seasonal results and growth outlook demonstrate, Skyworks is gaining margin-rich content and share across mobile applications while capitalizing on adjacent home automation, networking, medical, smart grid and machine-to-machine vertical markets," wrote David Aldrich, the Skyworks CEO, in a statement released after market close.

The semiconductor specialist, which is one of TheStreet's Breakout Stocks, has two power amplifiers within Apple's iPhone 5. The Woburn, Mass.-based firm had one power amplifier within the iPhone 4S.

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

More from Technology

How the Public Really Feels About Autonomous Driving Right Now

How the Public Really Feels About Autonomous Driving Right Now

10 Questions for PayPal Ahead of Its Big Investor Day

10 Questions for PayPal Ahead of Its Big Investor Day

China Makes Good on Car Tariff Pledge, Tesla Wins Big

China Makes Good on Car Tariff Pledge, Tesla Wins Big

Venture Capital Funding Surges 49% as Tech Innovation Piques Investor Interest

Venture Capital Funding Surges 49% as Tech Innovation Piques Investor Interest

Venture Capitalists Are Still Feverishly Searching for the Next Facebook

Venture Capitalists Are Still Feverishly Searching for the Next Facebook