Amkor Technology (AMKR) Tops Q1 EPS by 8c

Amkor Technology (NASDAQ: AMKR) reported Q1 EPS of $0.00, $0.08 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $869 million versus the consensus estimate of $811.1 million.

GUIDANCE:

Amkor Technology sees Q2 2016 EPS of ($0.04)-($0.14), versus the consensus of ($0.01). Amkor Technology sees Q2 2016 revenue of $850-900 million, versus the consensus of $868.97 million.

"First quarter results were above the high end of our guidance,” said Steve Kelley, Amkor's president and chief executive officer. “We benefited from better than expected performance in Japan and in the high-end Android smartphone market. In addition, our strategic initiatives continued to build momentum with automotive sales of $220 million in the quarter, up 7% sequentially and 6% year-over-year on a combined basis with J-Devices. Our Greater China revenues were also up 21% sequentially. However, overall demand was still relatively low on a historical basis, which led to breakeven financial performance in the quarter."

For earnings history and earnings-related data on Amkor Technology (AMKR) click here.

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