AMS: stock jumps 15%, with recovery on the cards
(CercleFinance.com) - AMS has ended Q1 2019 better than both management and the market expected, with the stock jumping 15% on the Zurich Stock Exchange this morning.
The group has also announced more optimistic forecasts made for the second quarter of the year.
The Austrian semiconductor group, which is listed in Switzerland, is one of Apple's suppliers, announced Q1 sales of 390.2 million dollars. Although this figure is down 7% year-on-year and down 20% sequentially, these sales are at the upper end of the forecast range provided by the company.
Having fallen by two-thirds year-on-year, although also above expectations, the group's quarterly adjusted operating profit came in at 23.5 million euros, meaning a margin of 6%.
In addition, AMS anticipates Q2 sales of 390 million to 430 million dollars with a margin of about 10%. The group cites the success of its optical and 3D sensors, despite a weak market environment and unfavorable seasonal factors.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The group has also announced more optimistic forecasts made for the second quarter of the year.
The Austrian semiconductor group, which is listed in Switzerland, is one of Apple's suppliers, announced Q1 sales of 390.2 million dollars. Although this figure is down 7% year-on-year and down 20% sequentially, these sales are at the upper end of the forecast range provided by the company.
Having fallen by two-thirds year-on-year, although also above expectations, the group's quarterly adjusted operating profit came in at 23.5 million euros, meaning a margin of 6%.
In addition, AMS anticipates Q2 sales of 390 million to 430 million dollars with a margin of about 10%. The group cites the success of its optical and 3D sensors, despite a weak market environment and unfavorable seasonal factors.
Copyright (c) 2019 CercleFinance.com. All rights reserved.