Skyworks Solutions, Inc. stock research
FY2024 Q3
Skyworks Solutions (SWKS) Gross Margin — Quarter Ended Jun 28, 2024
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue also declined. Gross margin remained stable versus the prior quarter but weakened compared to the year-ago period.
Gross margin takeaway
Quarter ended Jun 28, 2024 · FY2024 Q3
Revenue and gross profit both decreased compared to the prior quarter and the same quarter last year, while cost of revenue also declined. Gross margin remained stable versus the prior quarter but weakened compared to the year-ago period.
- The relationship among revenue, gross profit, cost of revenue, and gross margin shows that the decline in gross profit was proportionally similar to the decline in revenue, resulting in a stable gross margin sequentially. The year-over-year weakening in gross margin reflects a larger relative decline in gross profit compared to revenue.
- Compared to the immediately preceding quarter, revenue and gross profit were lower, cost of revenue was lower, and gross margin was stable. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
40.2%
Gross profit
$364.1M
Revenue
$905.5M
Cost of revenue
$541.4M
Quarter-over-quarter change
+0.0 pts
Year-over-year change
-3.1 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 29, 2023 | $1.2B | $478.1M | $740.7M | 39.2% |
| Dec 29, 2023 | $1.2B | $506.6M | $694.9M | 42.2% |
| Mar 29, 2024 | $1.0B | $420.3M | $625.7M | 40.2% |
| Jun 28, 2024 | $905.5M | $364.1M | $541.4M | 40.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 29, 2024
+0.0 pts
Year-over-year change
Jun 30, 2023
-3.1 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, gross profit, cost of revenue, and gross margin shows that the decline in gross profit was proportionally similar to the decline in revenue, resulting in a stable gross margin sequentially. The year-over-year weakening in gross margin reflects a larger relative decline in gross profit compared to revenue.
Compared to the immediately preceding quarter, revenue and gross profit were lower, cost of revenue was lower, and gross margin was stable. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened.
Monitor the trajectory of gross margin relative to revenue and cost of revenue trends in upcoming quarters.