Amkor Technology set to report Q3 earnings with revenue expected; potential growth offset by challenges.

From Nasdaq: 2024-10-23 10:22:00

Amkor Technology (AMKR) is set to report third-quarter 2024 results with revenue expected to range between $1.785 billion and $1.885 billion. Earnings per share are forecasted to be between 42-56 cents. The company has beaten earnings estimates in the past four quarters. However, weak performance in the Automotive and Industrial markets may offset growth in other areas.

Amkor’s performance in the third quarter is expected to be boosted by production ramps for new products, including advanced SiP technology and 2.5D technology. The company anticipates growth in the Consumer end market sales driven by IoT wearables. Strength in AI and high-performance computing is likely to support revenue growth in the Computing end market.

A partnership with Infineon Technologies at Amkor’s Porto site is expected to strengthen the company’s position in the semiconductor industry. However, the Automotive and Industrial markets may continue to face challenges due to ongoing inventory corrections. Despite strong long-term partnerships and geographic expansion, AMKR’s recent financial performance was impacted.

While Amkor Technology has an Earnings ESP of 0.00%, it carries a Zacks Rank #3. Analysts recommend keeping an eye on stocks like Arista Networks (ANET), Onto Innovation (ONTO), and Meta Platforms (META), which are expected to beat earnings estimates in the current reporting cycle. These companies have shown positive growth in their shares and are expected to deliver strong results in the upcoming quarter.



Read more at Nasdaq: Amkor Set to Report Q3 Earnings: What’s in Store for the Stock?