Amkor Technology (AMKR) Beats Q2 Earnings and Revenue Estimates

Group 1: Earnings Performance - Amkor Technology reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of$ 0.22 per share, and showing a slight increase from $0.26 per share a year ago, representing an earnings surprise of 22.73% [1] - The company achieved revenues of$ 1.46 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.67%, consistent with year-ago revenues of $1.46 billion [1] - Over the last four quarters, Amkor Technology has consistently surpassed consensus EPS estimates four times and revenue estimates three times [1] Group 2: Stock Performance and Outlook - Amkor Technology shares have increased approximately 14.7% since the beginning of the year, slightly outperforming the S&P 500's gain of 14.5% [2] - The company's future stock performance will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is$ 0.67 on revenues of $1.86 billion, and for the current fiscal year, it is$ 1.76 on revenues of $6.55 billion [4] Group 3: Industry Context - The Electronics - Semiconductors industry, to which Amkor Technology belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - Cirrus Logic, another company in the same industry, is expected to report quarterly earnings of$ 0.62 per share, reflecting a year-over-year decline of 7.5%, with revenues anticipated to be $317.69 million, up 0.2% from the previous year [5][6]