AMKOR TECHNOLOGY, INC. Q1 FY2025 earnings call

• Amkor delivered revenue of $1.32 billion in Q1 at the upper end of guidance; EPS was $0.09, impacted by higher R&D costs. - Strategic pillars: strengthening technology leadership, expanding geographic footprint, partnering with lead customers in growth markets. - Engaged in advanced packaging, RDL technology, co-packaged optics, and photonics; confirmed expansion of turnkey test solutions in Korea. - Evaluating options to increase scale and expand technology offerings in the U.S., on track to begin construction of Arizona facility in H2 2025.

Amkor's first quarter revenue was $1.32 billion. Communications end market revenue decreased 19% year-on-year; computing end market revenue increased 21% year-on-year; automotive and industrial end market revenue declined 6% year-on-year; consumer end market revenue increased 23% year-on-year. Communications revenue contribution: decreased 19% y-o-y; computing: increased 21% y-o-y; automotive and industrial: declined 6% y-o-y; consumer: increased 23% y-o-y.

• Q2 revenue expected between $1.375 billion and $1.475 billion, representing 8% sequential growth at midpoint. - Gross margin expected 11.5% - 13.5%. - Operating expenses expected around $125 million for Q2, full-year effective tax rate ~20%. - CapEx unchanged at $850 million, 5%-10% for Arizona facility.

• Uncertainties in customers' supply chains and demand swings for consumer-driven end products. - Evolving U.S. export controls and expanding technology restrictions under trade regulations.

Q: Charles Shi asks about Q1 being better-than-expected and Q2 guidance, potential impact of tariffs.

A: Giel Rutten says Q2 growth from comm and computing, no pull-ins due to tariffs.

Q: Charles Shi asks about Vietnam expansion and tariffs.

A: Giel Rutten says CapEx plan unchanged, monitoring tariffs.

Q: Ben Reitzes asks about comm segment Q2 and margins, auto/industrial guidance.

A: Giel Rutten and Megan Faust discuss comm margin expansion, auto market trough.

Q: Randy Abrams asks about Arizona expansion timeline, RDL interposer, co-packaged optics.

A: Giel Rutten talks about Arizona timeline, RDL R&D, co-packaged optics timing.

Q: Craig Ellis asks about comm segment linearity, RDL revenue timing.

A: Giel Rutten says comm segment linear, RDL revenue in 2025.

Q: Peter Peng asks about computing segment 2.5D, Connect-S tech.

A: Giel Rutten talks about 2.5D ramping, 2026 plans.

Q: Steve Barger asks about comm socket recovery, trade issues.

A: Giel Rutten discusses socket revenue, trade issues case-by-case.

Q: Tom Diffely asks about comm AI impact, Q1 margin comparison.

A: Giel Rutten and Megan Faust talk about AI in phones, Q1 margin due to Vietnam factory.