Amkor Tech Shares Drop On Revenue Miss, Outlook

By Wallace WitkowskiMarketsMarketWatch Pulse

Amkor Technology Inc. shares fell in the extended session Monday after the microchip packaging and services company's quarterly revenue and outlook fell below Wall Street estimates. Amkor shares dropped 10% to $9.40 a share after hours. The company forecast revenue of $860 million to $940 million for the first quarter. Analysts surveyed by FactSet expect $964.6 million. For the fourth quarter, Amkor reported earnings of 42 cents a share on revenue of $1.02 billion. Analysts had estimated earnings of 28 cents a share on revenue of $1.04 billion.

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