Liam K. Griffin
Chief Executive Officer, President and Chairman of the Board at Skyworks Solutions
Thanks, Mitch, and welcome, everyone. Despite a challenging macro backdrop, I am pleased to report that Skyworks delivered record second quarter results, with double-digit year-over-year growth both revenue and earnings per share. We continue to benefit from a broad and diverse product portfolio. And with an expanding set of customers in high-growth markets, we are well positioned to outperform in the current environment.. Looking at the quarter in more detail. We delivered record Q2 revenue of $1.34 billion, above consensus and up 14% compared to last year, highlighting both our growing content within Tier one mobile and the increasing diversification of our customer base and technology reach. In fact, our broad market revenue rose to a record $523 million in the quarter, up 10% sequentially and 36% year-over-year. In addition, we continue to drive solid profit margins, exceptional cash flow and consistent cash returns.
We achieved gross margin of 51.2% and operating margin of 36.8%. We posted earnings per share of $2.63, up 11% year-over-year. We generated operating cash flow of $393 million, and we returned $509 million to shareholders through dividends and share repurchases. Our strong results this quarter were driven by a vast expansion of use cases from content-rich smartphones to complex IoT devices, to innovative solutions for the automotive markets, industrial and infrastructure. Specifically in mobile, we supported the top five OEMs with our Sky5 architectures, including flagship models from Google, Samsung and other Tier 1s. In parallel, we leverage our in-house temperature compensated SAW, BAW and gallium arsenide technologies, to extend the reach across further content opportunities in 5G. In Enterprise and IoT, we powered Comcast's latest WiFi six residential gateways, partnered with T-Mobile for their integrated 5G fixed wireless access service. We debuted the industry's first WiFi 6E gaming router featuring ultrafast quad-band performance. And we embedded Sky5 technology in rugged mobile computing devices for industrial-grade factory automation. In automotive, we are executing on our vision to lead the global transition while accelerating the shift to electrification trends that pave the way for cleaner and more efficient autonomous transport. Over the past quarter, we enabled next-generation wireless technologies across multiple leading OEMs.
Further, our power isolation portfolio continue to gain momentum, with the global EV market leaders. And finally, in infrastructure and in Industrial. We captured milestone design wins at Tier one equipment and service providers for 5G macro and small cell deployments. We ramped high-performance clock solutions at used network systems, supporting LEO satellite networking, and we extended the reach of our cutting-edge timing portfolio across the leading fiber backhaul and data center equipment providers. Moving forward, ubiquitous connectivity, cloud computing and the massive shift to EV are fundamentally reshaping the way we live. As complexity intensifies, with billions of intelligent edge compute nodes that demand for high-speed ultra-reliable, low-latency solutions is accelerating. Skyworks is uniquely positioned to engineer and seamlessly integrate these advancements to increasingly smaller, more efficient form factors, purpose-built and customized for specific end markets and applications. Lastly, our business aperture and market reach have never been broader as we scale investments in core and new technologies. We are pioneering the breakthroughs in RF, signal processing, power isolation, timing, audio, among others, propelling our diversification and growth into the future.
With that, I'll turn the call over to Kris.