MagnaChip Semiconductor Corp. revised earnings guidance for the fourth quarter of 2016. For the quarter, the company is expecting to report around $180 million in revenue, narrowly beating the two-analyst estimate looking for $177 million in quarterly revenue and coming in at the top of its prior forecast expecting between $174 million to $180 million in fourth quarter revenue. The company also said it expects the fourth quarter gross profit margin will be about 25%, topping its previous guidance delivered October 27 looking for a gross margin of 22% to 24%. The company's preliminary financial results in the fourth quarter of 2016 benefited primarily from a richer-than-expected product mix and a larger-than-expected increase in foundry revenue. Gross profit margin in both the Foundry Services Group and the Standard Products Group improved sequentially in the fourth quarter of 2016, and gross profit margin for the AMOLED product line continued to exceed the corporate average in the fourth quarter of 2016. Adjusted EBITDA now is estimated to be higher in the fourth quarter of 2016 as compared to the prior third quarter, based on preliminary financial results for the fourth quarter of 2016.