Shares of Amkor Technology, a provider of semiconductor packaging and test services, experienced a drop in after-hours trading following the release of their third-quarter financial results. Both sales and earnings per share were down compared to the same period last year.
After-Hours Trading
At 6:32 p.m. EDT on Monday, the company’s stock fell by 16.14% to a trading price of $17.14. This decline comes after the stock closed at $20.44 during the regular session, marking a 1.5% decrease. Furthermore, the stock reached a 52-week low of $19.68 per share on November 1, 2022.
Q3 Earnings Report
Amkor reported earnings per share of 54 cents for the third quarter, with sales amounting to $1.82 billion. In comparison, during the same period last year, the company reported EPS of $1.24 on sales of $2.08 billion.
Q4 Outlook
Looking ahead to the fourth quarter, Amkor anticipates sales to range between $1.625 billion and $1.725 billion, with earnings per share estimated to fall between 32 cents and 49 cents.
Written by Stephen Nakrosis