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ASE Technology Holdings Sees Slight Revenue Increase in Q2 2024

Company Exceeds Market Expectations Despite Economic Challenges
Taiwan
a 3711.TW Blue Chip 150 OM 60 Semicon 75 Tech 350
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ASE Technology Holdings, a leading packaging and testing company, reported its June revenue at NT$46.925 billion, marking a 1.19% decline from May but a 0.44% increase from June 2023. The company’s consolidated revenue for Q2 2024 reached NT$140.238 billion, a 5.6% rise from Q1 and a 2.9% increase from the same period last year, surpassing market expectations.

For the first half of 2024, ASE’s overall consolidated revenue was NT$273.041 billion, reflecting a 2.2% growth compared to the first half of 2023. The revenue from packaging, testing, and materials in June was NT$26.058 billion, down 1.9% from May and the same period last year. However, the cumulative revenue for these segments in Q2 2024 was NT$77.813 billion, up 5.3% from Q1 and 2.2% year-on-year.

Despite recent challenges including industrial inventory depletion, geopolitical tensions, and inflation, ASE Investment Holdings anticipates a positive outlook driven by rebounding demand in semiconductor applications, particularly in the automotive, industrial control, and computing sectors. This recovery is expected to drive sales growth through the second half of 2023.

To capitalize on these opportunities, ASE plans to increase its capital expenditures in 2024, focusing primarily on advanced packaging and smart production. The company projects that its AI-related CoWoS advanced packaging performance will exceed previous financial forecasts by over $250 million in 2024. This strategic investment aims to bolster ASE’s capabilities in meeting the growing demand for advanced semiconductor technologies.

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