ASE Technology (ASX) Q2 2025 earnings summary

Executive summary

• Unconsolidated revenue grew 9% year-over-year in H1 2025, with ATM revenues up 18% and testing business up 31%, driven by leading-edge advanced packaging and testing, which now exceed 10% of ATM revenues compared to 6% in 2024.

• Net revenues reached NT$150,750 million in Q2 2025, up 7–7.5% year-over-year and 1.8–2% sequentially.

• Net income attributable to shareholders was NT$7,521 million in Q2 2025, down 3% year-over-year.

• Basic EPS for Q2 2025 was NT$1.74, down from NT$1.80 in Q2 2024.

• Revenue uptrend is expected to continue into 2026 and beyond, fueled by AI proliferation and semiconductor recovery, with significant investments in R&D, human capital, and smart factory infrastructure.

Financial highlights

• Q2 2025 consolidated net revenues were NT$150.8 billion, up 7% year-over-year and 2% sequentially; gross profit was NT$25.7 billion with a 17% gross margin.

• Operating profit was NT$10.2 billion (6.8% margin); net income for the quarter was NT$7.5 billion; basic EPS was NT$1.74.

• EBITDA for Q2 2025 was NT$27.4 billion.

• Cash and cash equivalents at June 30, 2025 were NT$72.8 billion.

• Total assets reached NT$765.2 billion, and total equity was NT$314.9 billion.

Outlook and guidance

• Q3 2025 consolidated revenue expected to grow 12–14% quarter-over-quarter in USD (6–8% in NT); gross margin to decrease by 1–1.2 points.

• ATM Q3 revenue projected to grow 9–11% quarter-over-quarter in USD (3–5% in NT); gross margin to decrease by 0.9–1.1 points.

• Revenue uptrend expected to continue into 2026 and beyond, driven by AI proliferation and semiconductor demand.

• Ongoing investment in R&D, human capital, advanced capacity, and smart factory infrastructure to support multi-year growth.

• Management remains focused on capacity expansion and capital investment to support future growth.