Why Skyworks Solutions Stock Just Jumped 11%
Shares of Skyworks Solutions (NASDAQ: SWKS), which makes semiconductors for smartphones, soared in early trading Friday, rising 11.4% through 10:30 a.m. EST because of a good old-fashioned earnings beat.
Expected to earn just $2.08 per share in pro forma profit on sales of less than $1.1 billion, Skyworks reported sales in excess of $1.5 billion in its fiscal first-quarter 2021 report released yesterday evening, and crushed on earnings as well, reaching $3.36 per share.
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Source Fool.com
