Apple supplier Skyworks’ revenue rises 15 percent

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(Reuters) – Apple supplier Skyworks Solutions Inc (SWKS.O) reported a 15 percent rise in quarterly revenue on Monday, helped by strong demand for its wireless chips and technology that powers Internet of Things.

However, net income fell to $70.4 million, or 38 cents per share, for the first quarter ended Dec. 29 from $257.8 million, or $1.38 per share, a year earlier.

The latest quarter included a provision for income taxes of $315.2 million.

Revenue rose to $1.05 billion from $914.3 million.

Reporting by Shariq Khan in Bengaluru; Editing by Anil D’Silva