{"id":35668,"date":"2023-10-25T23:37:51","date_gmt":"2023-10-25T23:37:51","guid":{"rendered":"https:\/\/innodebt.com\/investing\/asmpt-third-quarter-profit-fell-amid-semiconductor-industry-weakness\/"},"modified":"2023-10-25T23:37:53","modified_gmt":"2023-10-25T23:37:53","slug":"asmpt-third-quarter-profit-fell-amid-semiconductor-industry-weakness","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=35668","title":{"rendered":"ASMPT Third-Quarter Profit Fell Amid Semiconductor Industry Weakness"},"content":{"rendered":"
\n

By P.R. Venkat<\/p>\n

<\/pre>\n
Hardware and software solutions provider ASMPT’s third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness.<\/p>\n
Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars (US$1.9 million), while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday.<\/p>\n
\n
Profit margins from semiconductor solutions and surface mount technology solutions fell sharply due to “prolonged industry weakness, with demand-supply dynamics yet to turn favorable amidst conservative consumer sentiment,” the company said.<\/p>\n
For the fourth quarter, the company guided for revenue to come in between US$390.0 million and US$460.0 million.<\/p>\n
“In the short term, weak economy and end-market electronics demand will continue to prolong the industry inventory adjustment and constrain the capital spending of our customer base,” ASMPT said.<\/p>\n
<\/pre>\n
Write to P.R. Venkat at venkat.pr@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By P.R. Venkat Hardware and software solutions provider ASMPT’s third-quarter net profit fell sharply due to poor consumer spending and prolonged industry weakness. Net profit for the quarter fell nearly 98% from a year earlier to 14.63 million Hong Kong dollars (US$1.9 million), while revenue was HK$3.47 billion, down about 24.0%, ASMPT said Wednesday. Profit […]<\/p>\n","protected":false},"author":1,"featured_media":3704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-35668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nASMPT Third-Quarter Profit Fell Amid Semiconductor Industry Weakness | Innodebt<\/title>\n<meta name=\"description\" content=\"By P.R. 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