What happened Good news for Skyworks Solutions (NASDAQ: SWKS) shareholders today: Your company just reported an earnings beat -- not a huge one, admittedly. But the $2.37 per share in second-quarter profit and $1.17 billion in Q2 sales that the company announced last night clearly edged out the $2.35 per-share profit and $1.15 billion in sales that analysts had predicted. Bad news for Skyworks shareholders today: No one seems to care -- and Skyworks Solutions stock is down 7.7% as of 12:20 p.m. EDT. Image source: Getty Images. So what So why are investors reacting so negatively to Skyworks Solutions' fiscal Q2 2021 earnings beat? Let's take a closer look. For Q2 2021, Skyworks reported a quarterly record for revenue, up 53% year over year. The $2.37 per share in profit -- a pro forma number -- grew 77% year over year. And when calculated according to generally accepted accounting principles (GAAP), Skyworks' earnings grew even faster, up 84% to $1.95 per share. Granted, $1.95 is less than $2.37, but that's the usual relationship between pro forma earnings and actual GAAP profits. Both numbers improved significantly, and that's what we want to see. Now what Turning next to guidance, Skyworks' CFO Kris Sennesael highlighted the "robust demand for connectivity solutions in mobile and broad markets" that Skyworks' semiconductors are enjoying. The CFO told investors to "expect continued momentum and year-over-year growth into the June quarter." Management predicts about $1.1 billion in sales in fiscal Q3, yielding per-share GAAP profits of about $2.13 -- 49% revenue growth translating into earnings growth of 70% year over year. Relative to analyst projections of just under $1.1 billion in sales and $2.10 per share in profit, it sure looks to me like Skyworks is promising to follow up Q2's earnings beat with another beat in Q3. And viewed in that context, I have to say: Investors' decision to sell off Skyworks stock today makes no sense at all. 10 stocks we like better than Skyworks SolutionsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Skyworks Solutions wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Rich Smith has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Skyworks Solutions. The Motley Fool has a disclosure policy.Source