Overview
- Amkor reported second-quarter GAAP EPS of $0.22 and revenue of $1.51 billion, beating consensus estimates of $0.16 per share and $1.42 billion in sales.
- CEO Giel Rutten highlighted sequential revenue growth of 14% and double-digit expansion across AI, HPC, 5G and automotive markets.
- For the third quarter, Amkor sees GAAP EPS of $0.34–$0.48 and revenue of $1.875–$1.975 billion, implying flat-to-6% year-over-year sales growth.
- Shares jumped roughly 18% to about $25 on July 29, marking one of the largest one-day gains this year.
- Needham, Morgan Stanley and JP Morgan analysts raised their price targets to between $20 and $28 in response to the upbeat results and guidance.