Amkor Technology (AMKR) Soars 18% on Q3 Sales Growth Outlook

We recently published 10 Shock Winners on Wall Street. Amkor Technology, Inc. (NASDAQ:AMKR) is one of the best-performing stocks on Tuesday.

Amkor Technology rallied for a third day on Tuesday, jumping 18.13 percent to close at $25.08 apiece as investors cheered the company’s optimistic outlook for the third quarter of the year despite a mixed earnings performance in the past quarter.

In its earnings release, Amkor Technology, Inc. (NASDAQ:AMKR) said net sales in the second quarter of the year inched up by 3 percent to $1.5 billion from $1.46 billion in the same period last year. However, attributable net income dropped by 19 percent to $54 million from $67 million year-on-year.

For the third quarter, Amkor Technology, Inc. (NASDAQ:AMKR) expects net sales to either end flat or grow by 6 percent year-on-year, pegging figures at $1.875 billion to $1.975 billion, as compared with the $1.862 billion posted in the same period last year.

Net income, on the other hand, was projected to end lower at $85 million to $120 million, versus the $123 million posted in the same quarter a year earlier.