Amkor shares climb as 2Q report beats analyst views, 3Q demand also appears high

Amkor shares rise with 2Q report, 3Q outlook

SAN FRANCISCO — Shares of Amkor Technology Inc. climbed Thursday after the chip assembly and testing services company’s second-quarter results surpassed analyst expectations and it predicted increased demand will continue in the third quarter.

Amkor shares rose 32 cents, or 5.5 percent, to $6.14 in afternoon trading.

Amkor said late Wednesday that for the April-June quarter it earned $59.1 million, or 23 cents per share, compared with $9.2 million, or 5 cents per share, in the year-ago quarter. Excluding one-time items, the company earned 27 cents per share; analysts polled by Thomson Reuters expected a profit of 25 cents per share.

Revenue jumped 48 percent to $749 million — much higher than the $719.9 million analysts were looking for. Revenue from packaging services rose 51 percent to $678 million, while test services revenue rose 20 percent to $71 million.

Amkor, which is based in Chandler, Ariz., also predicted third-quarter results ahead of analysts’ forecast. The company said that in the July-September period it expects a profit of 36 cents to 42 cents per share on $787 million to $817 million in revenue. Analysts, who typically exclude one-time items from estimates, are looking for a profit of 35 cents per share on $760.8 million in revenue.