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Amkor Technology (AMKR) Stock Gains After Earnings Beat

NEW YORK (TheStreet) -- Shares of Amkor Technology (AMKR - Get Report) were gaining by 12.7% to $6.37 on heavy trading volume Tuesday afternoon, after the semiconductor product packaging company beat analysts' earnings estimates for the 2015 third quarter.

On Monday, Amkor Technology reported earnings of 12 cents a share for the third quarter, above analysts' estimates of 4 cents a share for the quarter. Revenue fell 9.7% year over year to $734 million for the quarter, beating analysts' estimates of $725.02 million.

"Third quarter revenues were at the higher end of our expectations and roughly flat to Q2," President and CEO Steve Kelley said in a statement. "Third quarter profit exceeded expectations, largely due to favorable...


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