Skyworks Solutions, Inc.

Skyworks reported Q2 fiscal 2026 revenue of $944 million, about $20 million above the high end of guidance, with diluted EPS of $1.15, $0.05 above the high end. Gross profit was $425 million and gross margin was 45%; operating income was $189 million and operating margin was 20%; net income was $173 million. Revenue was 58% mobile and 42% broad markets; broad markets grew 10% year over year. For Q3 fiscal 2026, the company guided revenue to $900 million to $950 million, gross margin to 44.5% to 45.5%, operating expenses to $235 million to $245 million, and EPS to $1.03 at the midpoint of $925 million revenue.

Phil Brace said the quarter showed strong execution across mobile and broad markets, with demand healthy and channel inventories lean. He emphasized a major Android design win expected to create more than $1 billion in revenue through 2030, describing it as validation of Skyworks' RF content platform and technology differentiation. He also highlighted product momentum in BAW filters for early 6G, next-generation RF front ends above 7 GHz, timing products for data center and PCIe Gen 7, and early WiFi 8 engagement.

Philip Carter said revenue of $944 million beat guidance, with gross profit of $425 million and gross margin of 45% in line with the midpoint. Operating expenses were $236 million, operating income was $189 million, and EPS of $1.15 was $0.11 above the midpoint of guidance. He noted about $1.4 billion in cash and investments versus $1 billion in debt, and said Q3 gross margin should be 44.5% to 45.5% with input costs, expedite fees and gold prices a modest headwind, partly offset by cost controls, fab optimization and selective pricing.

Analysts pressed management on whether the Android win changes content trends at the largest customer and whether it implies share gains or improved stickiness; Brace said the win is incremental, premium, and should be a good technology statement across multiple generations. Questions also focused on seasonality, lead times and gross margin direction; management said book-to-bill is above 1, inventories are low, and it does not see abnormal seasonality, while Carter reiterated a longer-term gross margin model of 50% to 55% post-Qorvo and said mix shift and lower cost structure could support expansion. Analysts also asked about China exposure and whether the company would reconsider its strategy there; Carter said China revenue is less than $200 million annually and handset revenue is less than $20 million, while Brace said Skyworks will stay disciplined and avoid dilutive business.