Amkor Technology Earnings: Here’s Why the Stock is Rising Now
Amkor Technology, Inc. (NASDAQ:AMKR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.84%.
Amkor Technology, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 22.22% to $0.07 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Rose 5.04% to $688 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Amkor Technology, Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $672.36 million.
Quoting Management: “Driven by our strong performance in mobile communications, first quarter sales and earnings came in at the high end of our expectations,” said Ken Joyce, Amkor’s president and chief executive officer. “Our investments in the advanced technologies and production capacity in support of the fast-growing market for smartphones and tablets are paying off with notable improvement over the first quarter 2012.”
Key Stats (on next page)…
Revenue decreased 4.8% from $722.66 million in the previous quarter. EPS decreased 46.15% from $0.13 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.13 and has not changed. For the current year, the average estimate has moved down from a profit of $0.61 to a profit of $0.56 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)