Shares of Amkor Technology Inc. (NASDAQ: AMKR) plummeted nearly 10% in pre-market trading on Tuesday, following the company's disappointing first-quarter earnings and revenue 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, its revenue fell slightly short of expectations. 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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