ASE Technology Reports Mixed Q1 Performance, Margins Shrink

ASE Technology Holding Co, Ltd ASX reported a first-quarter net revenue decline of 9% year-on-year to NT$130.89 billion. The revenue declined by 26% quarter-on-quarter.
Net revenues for ATM (assembly, testing, and material) business was NT$73.32 billion, down by 13% Y/Y and 22% Q/Q.
EMS (electronic manufacturing services) net revenues were NT$57.73 billion, down by 31% Q/Q.
Gross margin decreased by 440 bps Q/Q to 14.8%.
The operating margin declined by 520 bps Q/Q to 5.9%.
Diluted EPS was NT$1.30 (or $0.086 per ADS).
Capital expenditures totaled $231 million.
Price Action: ASX shares traded higher by 0.59% at $6.85 on the last check Thursday.