By Nate Wolf

Shares of Skyworks Solutions slid after pending merger partner Qorvo beat earnings expectations for last quarter, but issued a disappointing outlook for the current period.

Qorvo posted adjusted earnings of $2.17 a share for its fiscal third quarter, surpassing analysts' call for $1.86, according to FactSet. Revenue totaled $993 million, up from $941 million last year and ahead of Wall Street's estimate of $988 million.

But the semiconductor maker guided for earnings of $1.05 to $1.35 a share in the March quarter, below the $1.37 analysts had expected coming into the print. The company forecast revenue of $775 million to $825 million, which would be a sharp decline from $869 million in the same quarter last year.

Qorvo stock dropped 5.9% to $77.93 on Wednesday. Skyworks fell 7% to $55.85.

The pair agreed to merge in October in a cash-and-stock deal that brings together two of the primary suppliers for components in Apple's iPhones. Qorvo shareholders will receive $32.50 in cash and 0.96 Skyworks common shares for each Qorvo share in the deal.

The transaction is expected to close in early 2027, the companies said at the time. Skyworks shareholders will own 63% of the combined $22 billion radio frequency, analog, and mixed-signal chip company. Qorvo shareholders will own the remaining 37%.

Skyworks reports fiscal first-quarter earnings on Feb. 3. Investors will be looking for signs that the soon-to-be-combined company can cling to its market share of iPhone content amid worries that iPhone sales may disappoint this year.

Write to Nate Wolf at nate.wolf@barrons.com

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January 28, 2026 11:46 ET (16:46 GMT)

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