ASE Technology Holding Co, Ltd (NYSE:ASX) reported a fiscal first-quarter 2024 net revenue growth of 1.5% year-on-year to NT$132.80 billion ($4.24 billion), missing the consensus of $4.41 billion. The revenue declined by 17.3% quarter-on-quarter.
Net revenues for ATM (assembly, testing, and material) business was NT$73.91 billion, up by 0.8% Y/Y and down by 9.9% Q/Q.
EMS (electronic manufacturing services) net revenues were NT$59.37 billion, up by 2.8% Y/Y and down by 25.0% Q/Q.
Gross margin increased by 94 bps Y/Y to 15.7%. The operating margin declined by 21 bps Y/Y to 5.7%.
Diluted EPS was NT$1.28 (or $0.084 per ADS) vs. consensus $0.100.
Capital expenditures totaled $228 million.
ASE Technology Holding stock gained over 44% in the last 12 months. Investors can gain exposure to the stock via IShares Semiconductor ETF (NASDAQ:SOXX) and First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV).
Price Action: ASX shares are down 2.2% at $10.13 at the time of publication Thursday.
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