Apple Inc. supplier Skyworks Solutions Inc. lowered its revenue and EPS guidance for the first fiscal quarter ended Dec. 28, 2018.
Skyworks Solutions, which makes analog semiconductors, trimmed its revenue forecast to about $970 million for the quarter from its estimated range of $1.00 billion to $1.02 billion. The company expects its adjusted earnings to be between $1.81 per share and $1.84 per share in the quarter, down from its previous forecast of $1.91 per share at the midpoint of the prior revenue range.
"First fiscal quarter results were impacted by unit weakness across our largest smartphone customers," Skyworks President and CEO Liam Griffin said. "Despite these near-term challenges, our broad markets business tracked in-line with our prior outlook."
Apple recently lowered its fiscal 2019 first-quarter revenue forecast due to weaker-than-expected iPhone sales, primarily in Greater China.
Skyworks will report its first-quarter earnings Feb. 5.