Amkor Technology Q4 Profit Surges, Shares Up 8%

(RTTNews) - Shares of Amkor Technology, Inc. (AMKR) gained over 8% in extended trading session on Monday after the Arizona-based semiconductor company reported a surge in profit for the fourth quarter as revenues jumped 26%.

Amkor's fourth-quarter profit $217 million or $0.88 earnings per share compared to $127 million or $0.52 earnings per share in the same quarter last year.

The company also reported revenue of $1.73 billion, up 26% from 1.68 billion last year.

Commenting on the results, CEO Giel Rutten said, "Amkor delivered outstanding financial results in 2021. With continued momentum in the fourth quarter, we achieved record annual revenue of $6.14 billion, growing nearly 22% or $1.1 billion year-over-year. Strong execution, high factory utilization, and disciplined spending drove record EPS of $2.62."

Looking forward to the first quarter, the company expects earnings of $0.45 to $0.65 per share and sales of $1.50 billion to $1.60 billion.

AMKR closed Monday's regular trading at $21.15, up $0.25 or 1.20%, on the Nasdaq. The stock further gained $1.75 or 8.27% in the after-hours trading.