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Amkor Technology (AMKR 3.07%) notched a double beat on the consensus analyst estimates for its third quarter, but investors traded out of the stock anyway. They likely weren't happy with the company's guidance, or the resignation of its long-serving leader. Amkor's share price fell by 3% that trading session, while the S&P 500 (SNPINDEX: ^GSPC) was in the black with a 0.2% gain. Rise to a new record Amkor booked net sales of almost $1.99 billion for the quarter, which was 7% higher year over year and notched a new all-time record for the company. Net income under generally accepted accounting principles (GAAP) also headed north, rising to $127 million ($0.51 per share) from the third quarter 2024's $123 million profit. Both figures were more than good enough to top the consensus analyst estimates. Pundits tracking the company, which specializes in semiconductor packing and testing, were anticipating $1.93 billion on the top line, and a per-share net income figure of $0.43. In its earnings release, the company attributed the improvements to significant ramp-ups in production. It pointed to particularly high demand for its advanced packaging offerings. A high-level executive exit Amkor proffered guidance for the entirety of 2025, stating that it expects net sales of just under $1.78 billion to almost $1.88 billion for the year. The average analyst estimate is $1.83 billion. Net income, meanwhile, is anticipated to be $95 million to $120 million ($0.38 to $0.48 per share). The consensus pundit projection is $0.43 per share. The company also announced that CEO Giel Rutten is stepping down from his position at the end of this year, to be replaced by current COO Kevin Engel. Rutten, who has been CEO since mid-2020, will retain his seat on the board of directors.
