MergerMay 5, 2026, 05:17 PM
Skyworks' Qorvo Merger Progresses; Q2 Revenue $943.7M, EPS $0.24
AI Summary
Skyworks Solutions, Inc. provided an update on its pending merger with Qorvo, Inc., noting that stockholders of both companies approved the transaction and a Second Request was received from the FTC, extending the waiting period. The company also reported its second-quarter financial results for the three months ended April 3, 2026, with net revenue and net income declining compared to the prior year.
Key Highlights
- Skyworks and Qorvo stockholders approved the merger on February 11, 2026.
- FTC issued a Second Request for the Qorvo merger on February 5, 2026, extending the HSR Act waiting period.
- Net revenue for the three months ended April 3, 2026, was $943.7 million, down from $953.2 million YoY.
- Net income for the three months ended April 3, 2026, was $35.6 million, down from $68.7 million YoY.
- Diluted EPS for the three months ended April 3, 2026, was $0.24, down from $0.43 YoY.
- Declared a cash dividend of $0.71 per share, payable June 16, 2026.
- Six-month net revenue was $1,979.1 million, with $1,493.1 million from the United States.
- Approximately $1.2 billion remained available under the stock repurchase program as of April 3, 2026.