Why Amkor Stock Skyrocketed Today
Shares of Amkor (NASDAQ: AMKR) have skyrocketed today, up by 20% as of noon EST, after the company reported fourth-quarter earnings results. The semiconductor packaging specialist beat expectations for both the top and bottom lines.
Revenue in the fourth quarter increased 9% to a record $1.2 billion, which translated into net income of $99 million, or $0.41 per share. Analysts were expecting the tech company to report just $0.23 per share in profit. That brought full-year 2019 revenue to $4.05 billion, with operating cash flow of $564 million and free cash flow of $104 million.
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Source Fool.com
