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Sensor maker AMS guides for strong demand from smartphone makers in Q3

Credit: REUTERS/ARND WIEGMANN

Sensor specialist AMS AG, which just closed the takeover of Germany's Osram, said it expects its third-quarter revenues to grow around 20% versus the second quarter as demand from smartphone makers remains strong despite the pandemic.

VIENNA, July 29 (Reuters) - Sensor specialist AMS AG AMS.S, which just closed the takeover of Germany's Osram OSRn.DE, said it expects its third-quarter revenues to grow around 20% versus the second quarter as demand from smartphone makers remains strong despite the pandemic.

Revenue came in at $460.3 million and adjusted earnings before interest and tax (EBIT) reached $90.1 million in the three months through June, the Austrian group said.

The adjusted EBIT Margin was at 20%.

AMS, generating a large chunk of its revenue with sensors for Apple's AAPL.O iPhones, had guided for an adjusted EBIT margin of 17-20% and revenue of $440-480 million.

It expects third-quarter revenues to come in between $530-570 million.

(Reporting by Kirsti Knolle Editing by Riham Alkousaa)

((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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