Amkor Technology Reports Financial Results for the Second Quarter 2023

About this update from Amkor Technology, Inc.

[{"type":"text","content":" TEMPE, Ariz.--(BUSINESS WIRE)--\nAmkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the second quarter ended June 30, 2023.\n\n\nSecond Quarter 2023 Highlights\n\n\n\nNet sales $1.46 billion\n\n\n\nGross profit $187 million, operating income $76 million\n\n\n\nNet income $64 million, earnings per diluted share $0.26\n\n\n\nEBITDA $245 million\n\n\n\n“Amkor’s second quarter performance was in line with our expectations, with demand for Advanced packaging solutions driving sequential growth in both the Computing and Consumer end markets,” said Giel Rutten, Amkor’s president and chief executive officer. “With our technology leadership and broad geographic footprint, Amkor is outperforming the industry and is well positioned to capitalize on the industry megatrends that we expect to propel growth beyond the current cycle.”\n\n\nQuarterly Financial Results\n\n\n\n\n \n\n\n\n\n($ in millions, except per share data)\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2022\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,458\n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,472\n\n\n\n\n\n\n \n\n\n\n\n\n\n$1,505\n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n12.8%\n\n\n\n\n\n\n \n\n\n\n\n\n\n13.2%\n\n\n\n\n\n\n \n\n\n\n\n\n\n16.6%\n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n \n\n\n\n\n\n\n$76\n\n\n\n\n\n\n \n\n\n\n\n\n\n$69\n\n\n\n\n\n\n \n\n\n\n\n\n\n$143\n\n\n\n\n\n\n\n\nOperating income margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n5.2%\n\n\n\n\n\n\n \n\n\n\n\n\n\n4.7%\n\n\n\n\n\n\n \n\n\n\n\n\n\n9.5%\n\n\n\n\n\n\n\n\nNet income attributable to Amkor\n\n\n\n\n\n\n \n\n\n\n\n\n\n$64\n\n\n\n\n\n\n \n\n\n\n\n\n\n$45\n\n\n\n\n\n\n \n\n\n\n\n\n\n$125\n\n\n\n\n\n\n\n\nEarnings per diluted share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.26\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.18\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.51\n\n\n\n\n\n\n\n\nEBITDA (1)\n\n\n\n\n\n\n \n\n\n\n\n\n\n$245\n\n\n\n\n\n\n \n\n\n\n\n\n\n$229\n\n\n\n\n\n\n \n\n\n\n\n\n\n$302\n\n\n\n\n\n\n\n(1) EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under “Selected Operating Data.”\n\n\nAt June 30, 2023, total cash and short-term investments was $1.2 billion, and total debt was $1.1 billion.\n\n\nThe company paid a quarte...

More updates from Amkor Technology, Inc.