Skyworks Solutions [stckqut]SWKS[/stckqut] posted fiscal 4Q financial results late Thursday that impressed investors and raised its EPS forecasts, sending shares rising almost 8% in recent market action.
At $1.52, EPS rose in line with the Street’s expectations during the quarter that ended Oct. 2 while revenue climbed 23% to almost $881 million. During the current quarter, Skyworks expects to earn $1.60 a share on revenue of $925 million to $930 million, besting the $1.57 and $921.5 million expected by the Street.
But it’s the company’s longer-term EPS guidance that caught everyone’s attention. Skyworks expects annualized EPS of $8 within the next two years, up from the $7 previous target. That overshadowed lingering worries that maturing iPhone sales will hurt Skyworks and other members of Apple’s [stckqut]AAPL[/stckqut] supply chain during the coming holiday season.