The design and performance of an InGaAs/InP transimpedance amplifier and post amplifier for 40 Gb/s receiver applications are presented. We fabricated the 40 Gb/s transimpedance amplifier and post amplifier using InGaAs/InP heterojunction bipolar transistor (HBT) technology. The developed InGaAs/InP HBTs show a cut-off frequency ($f_T$) of 129 GHz and a maximum oscillation frequency ($f_{max}$) of 175 GHz. The developed transimpedance amplifier provides a bandwidth of 33.5 GHz and a gain of 40.1 $dB{Omega}$. A 40 Gb/s data clean eye with 146 mV amplitude of the transimpedance amplifier module is achieved. The fabricated post amplifier demonstrates a very wide bandwidth of 36 GHz and a gain of 20.2 dB. The post-amplifier module was fabricated using a Teflon PCB substrate and shows a good eye opening and an output voltage swing above 520 mV.