ChipMOS's October Revenue Figures Reflect Pandemic Recovery Correction & Current Macroeconomic Scenario - ChipMOS TECHNOLOGIES (NASDAQ:IMOS)

ChipMOS Technologies Inc IMOS reported an October 2022 revenue of NT$1.574 billion or $48.8 million, representing a month-on-month decrease of 1.1% and a year-on-year decline of 31.2%.
ChipMOS provides outsourced semiconductor assembly and test services (OSAT).
ChipMOS reported a third-quarter FY22 revenue decrease of 26.6% Y/Y to $165.3 million. On a sequential basis, revenue declined by 23.3%.
Revenue for September 2022 was $50.1 million, representing a Q/Q decrease of 7.2% and a Y/Y reduction of 32.1%.
The semiconductor companies had a wild run during the pandemic as remote work, and remote entertainment took centerstage, triggering a huge demand for semiconductor chips and components.
However, the pandemic recovery period also witnessed high inflation thanks to the monetary policies, stimulus checks, and global shortages from the supply chain crisis, further fueled by the Russia-Ukraine war. As a result, consumers curbed their spending.
Price Action: IMOS shares traded higher by 4.09% at $20.89 on the last check Thursday.
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