Dow Jones Newswires: Ams profit climbs, sees revenue rising towards end-year

This post was originally published on this site

Ams AG said Tuesday that its third-quarter net profit rose and it expects revenue to increase during the last three months of the year.

The Swiss technology company AMS, -2.30%  posted net profit of $158 million during the period, up from $65.8 million last year. Revenue rose 41% to $645 million.

The company said that results were driven by its consumer solutions unit and good performance in the smartphone market.

Ams expects to book revenue of between $610 million and $650 million during its fourth quarter, which would represent a 28% year-on-year increase at the midpoint.