ChipMOS (IMOS) Reports Q2 Revenues of $184.4M

ChipMOS (NASDAQ: IMOS) reported Q2 revenue for the quarter came in at $184.4 million.

IMOS reported its unaudited consolidated revenue for the month of June 2020 and for the second quarter ended June 30, 2020. All U.S. dollar figures cited in this press release are based on the exchange rate of NT$29.44 to US$1.00 as of June 30, 2020.

Revenue for the second quarter of 2020 was NT$5,428.1 million or US$184.4 million, representing an increase of 10.7% from the second quarter of 2019, and a decrease of 2.8% from the first quarter of 2020.

Revenue for the month of June 2020 was NT$1,784.5 million or US$60.6 million, representing an increase of 9.0% from June 2019, and a decrease of 0.3% from May 2020.

The Company noted this represents a six year record high for its second quarter revenue. ChipMOS continues to benefit from growth in its memory business, led by DRAM and NOR flash demand in support of cloud-based storage services and applications, ongoing 5G network buildouts worldwide, and higher demand from the gaming market and in support of increased work and school from home needs. Within its DRAM business, commodity DRAM was stronger in the second quarter 2020 than niche DRAM. DDIC revenue was impacted by continued softness in smartphones and TVs, both of which are positioned for a potential rebound in growth in the second half of 2020 due to rationalized inventory in the supply chain along with an expected demand recovery.

For earnings history and earnings-related data on ChipMOS (IMOS) click here.

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