Key Takeaways:
- Reports Q1 net profit of HKD254 million, a 203.5% increase year-over-year.
- Adjusted profit for continuing operations rose 193.5% to HKD335 million.
- Stock jumps more than 6% after the strong earnings announcement.
Back
Back
ASMPT shares surge over 6% after Q1 net profit triples
ASMPT Ltd. (00522.HK) reported first-quarter net profit surged 203.5% year-over-year to HKD254 million, sending its shares up more than 6% in Hong Kong trading.
The results were driven by improving fundamentals in the semiconductor sector, according to a recent Citi research note which reiterated a buy rating on the company.
The semiconductor equipment maker’s adjusted profit from continuing operations grew 193.5% to HKD335 million, translating to an adjusted basic earnings per share of HKD0.81. Basic earnings per share were HKD0.61. The company did not disclose revenue figures or a comparison to analyst consensus in its initial announcement.
The strong profit growth suggests a robust recovery for the chip-making equipment supplier, a key player in the global semiconductor supply chain. Investors will be watching for the company's detailed financial report to assess segment performance and forward-looking guidance.
This article is for informational purposes only and does not constitute investment advice.
