October 22, 2019 / 5:44 AM / a month ago

Strong demand from smartphone makers boosts AMS Q3 operating profit

VIENNA, Oct 22 (Reuters) - Sensor specialist AMS reported third-quarter sales above its own guidance and a threefold increase of its operating profit thanks to strong demand from smartphone makers.

AMS posted third-quarter revenues of $645 million, up 41% from last year and above its $600-640 million guidance. For the fourth quarter, AMS sees its revenue between $610-650 million, it said on Tuesday.

Adjusted earnings before interest and tax (EBIT) increased to $177.9 million in the three month through September from $57.6 million last year, the Austrian group, which supplies Apple with sensors for its face recognition technology, said. (Reporting by Kirsti Knolle Editing by Tassilo Hummel)

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