Shares of Amkor Technology (NASDAQ: AMKR) plummeted nearly 11% in the after-hours trading session on Monday, following the company's disappointing first-quarter guidance.
The semiconductor packaging and testing services provider reported mixed results for the fourth quarter of 2024. While Amkor beat Wall Street's earnings estimates, posting $0.43 per share versus the expected $0.37, its revenue of $1.63 billion fell short of the consensus forecast of $1.66 billion.
However, it was the company's weak outlook for the current quarter that appeared to trigger the sell-off. For the first quarter of 2025, Amkor guided for earnings per share of just $0.01 to $0.17 on revenue of $1.23 billion to $1.33 billion. These projections significantly missed analysts' expectations of $0.27 per share in earnings and $1.42 billion in revenue.
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