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TEMPE, Arizona - Amkor Technology , Inc. (NASDAQ:AMKR), a provider of semiconductor packaging and test services, reported fourth-quarter earnings that beat analyst expectations but saw its shares fall 6% in after-hours trading due to weak guidance for the upcoming quarter.
The company reported adjusted earnings per share of $0.43 for the fourth quarter, surpassing the analyst estimate of $0.38. However, revenue for the quarter came in at $1.63 billion, slightly below the consensus estimate of $1.66 billion and down 7% YoY.
Amkor’s guidance for the first quarter of 2025 fell short of analyst expectations, contributing to the stock’s decline. The company forecasts earnings per share between $0.01 and $0.17, well below the consensus of $0.31. Revenue is projected to be between $1.225 billion and $1.325 billion, also lower than the $1.464 billion analysts had anticipated.
For the full year 2024, Amkor reported net sales of $6.32 billion, a decrease from $6.50 billion in 2023. Net income for the year was $354 million, or $1.43 per diluted share, compared to $360 million, or $1.46 per diluted share, in the previous year.
"In 2024, weakness in the automotive and industrial and communications end markets contributed to a full year decline," said Giel Rutten, Amkor’s president and CEO. "In contrast, we achieved record revenue in our computing end market with growth in ARM-based PCs and AI devices."
Despite the challenging year, Amkor highlighted some positive developments, including the successful ramp-up of its new facility in Vietnam, securing CHIPS funding to bolster U.S. manufacturing, and setting a new record for Advanced SiP revenue.
The company’s board of directors approved a 5% increase in the quarterly cash dividend and a special cash dividend of $0.40546 per share, which were paid in December 2024.
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