ChipMOS Registers 27% Revenue Decline In Q3

ChipMOS TECHNOLOGIES INC IMOS reported a third-quarter FY22 revenue decrease of 26.6% year-on-year to $165.3 million. On a sequential basis, revenue declined by 23.3%.
Revenue for the month of September 2022 was $50.1 million, representing a Q/Q decrease of 7.2% and a Y/Y reduction of 32.1%.
The company noted that while its long-term business catalysts remain firmly in place, the decline in its Q/Q and Y/Y revenue reflects broader end-market conditions and ongoing inventory adjustments in response to end-market demand levels, impacting the entire industry.
Apple Inc AAPL supplier Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) reported a September revenue growth of 36.4% year-on-year to NT$208.25 billion.
Price Action: IMOS shares closed lower by 1.38% at $19.34 on Thursday.