Amkor Technology, Inc. (NASDAQ:AMKR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.22%.
Amkor Technology, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 6.67% to $0.14 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 8.66% to $746 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Amkor Technology, Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.13. It missed the average revenue estimate of $755.6 million.
Quoting Management: “Driven by strong results in mobile communications, sales for the quarter increased more than 8% sequentially and year over year with a corresponding improvement in our gross margin,” said Steve Kelley, Amkor’s president and chief executive officer. “Since joining Amkor in May, I have been working closely with customers and management to assess our business and operations. We are well positioned with solid investments in the right technologies, customers, and end markets, and I am optimistic about our long-term prospects for sales growth and improved profitability.”
Key Stats (on next page)…
Revenue increased 8.5% from $687.53 million in the previous quarter. EPS increased 100% from $0.07 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.18 to a profit $0.17. For the current year, the average estimate has moved down from a profit of $0.55 to a profit of $0.54 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)