04:26 PM EDT, 07/30/2024 (MT Newswires) -- Skyworks Solutions ( SWKS ) late Tuesday reported fiscal Q3 non-GAAP net income of $1.21 per diluted share, down from $1.73 a year earlier.

Analysts polled by Capital IQ expected $1.21.

Revenue for the quarter ended June 28 was $905.5 million, compared with $1.07 billion a year earlier.

Analysts expected $900.6 million.

For Q4, the company is projecting non-GAAP EPS of $1.52 at midpoint of revenue range between $1 billion to $1.04 billion.

Analysts polled by Capital IQ are looking for $1.51 and $1.01 billion, respectively.

The semiconductor components company also increased quarterly dividend 3% to $0.70 per share, payable Sept. 10 to shareholders of record on Aug. 20.

Shares dropped over 4% after hours.

Price: 112.31, Change: -5.38, Percent Change: -4.57