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Amkor Technology Reports Financial Results for the Second Quarter 2024
TEMPE, Ariz.--(BUSINESS WIRE)-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced
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, 2024.\n\n\nSecond Quarter 2024 Highlights\n\n\n\nNet sales $1.46 billion\n\n\n\nGross profit $212 million, operating income $82 million\n\n\n\nNet income $67 million, earnings per diluted share $0.27\n\n\n\nEBITDA $247 million\n\n\n\n“Amkor delivered second quarter results in line with expectations. Revenue of $1.46 billion was up 7% sequentially, driven by Advanced packaging supporting premium tier smartphones and AI solutions utilizing 2.5D technology,” said Giel Rutten, Amkor’s president and chief executive officer. “Strength in the Communications and Computing end markets was partially offset by soft demand and ongoing inventory corrections in the Automotive & Industrial and Consumer end markets.”\n\n\n\n\nQuarterly Financial Results\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n($ in millions, except per share data)\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,461\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,366\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,458\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n14.5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n14.8\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n12.8\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nOperating income\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n82\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n73\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n76\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nOperating income margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n5.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n5.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \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\n\n\nNet income attributable to Amkor\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n67\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n59\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n64\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nEarnings per diluted share\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.27\n\n\n\n\n\n\n \n\n\n\n...