Amkor Technology increases 4th-qtr outlook, now expects revenue up 6 percent sequentially

Amkor Technology raises 4Q revenue outlook

CHANDLER, Ariz. — Amkor Technology Inc. raised its fourth-quarter revenue outlook Monday, citing higher-than-anticipated demand from customers.

Shares of Amkor, which provides chip assembly and testing services, jumped 56 cents, or 8.6 percent, in after-hours trading, after finishing regular trading up 3 cents at $6.51.

The company now expects revenue to rise 6 percent from the third quarter. It previously said it expected revenue to either fall or rise 2 percent or be flat.

In the third quarter, Amkor’s revenue totaled $616.2 million, so the revised outlook calls for $653.2 million — higher than the $611 million analysts polled by Thomson Reuters expect.