Amkor Technology Q3 sales slightly miss estimates on weak Communications
AMKR•Amkor Technology reported Q3 sales of $1.99 billion, slightly below the $2.01 billion consensus, while diluted EPS rose to $0.76 from $0.51 a year earlier. The company forecast Q4 sales of $1.9 billion to $2.0 billion and net income of $160 million to $185 million.
1. Quarterly results
Amkor Technology's Q3 net sales were $1.99 billion, slightly below the $2.01 billion estimate from nine analysts. Diluted EPS rose to $0.76 from $0.51 a year earlier. The company said revenue reached records in its Computing and Automotive & Industrial end markets, while Communications was weak as expected.
2. Fourth-quarter outlook
Amkor forecast Q4 net sales of $1.9 billion to $2.0 billion, gross margin of 18.0% to 19.0%, and net income of $160 million to $185 million, or $0.65 to $0.75 per share. It attributed margin expansion to improved customer commitments and execution on key programs.
