AMS Profit Surges On New iPhones
Austrian chipmaker AMS posted a 49 percent lift in its third-quarter core profit and gave an upbeat forecast for the next period on the back of Apple commencing mass production of new phones, including sensors.
Investors are betting that new products launched in the second half of 2018 will lead to higher sales next year. In particular they hope for good sales of Apple’s three new iPhones, which analysts think all include AMS’s face recognition sensors.
AMS said third-quarter adjusted earnings before interest and tax (EBIT) reached $60.2 million or 13 percent of revenue from $40.5 million last year.
Revenue in the quarter reached $479.6 million and is expected to rise to $570-610 million in the three months through December, AMS said.