AMD Earnings: Tops Analyst Estimates, Stock Pops

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Advanced Micro Devices, Inc. (NYSE:AMD) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.22%.

Start 2013 better than ever by saving time and making money with your Limited Time Offer for our highly-acclaimed Stock Picker Newsletter. Click here for our fresh Feature Stock Pick now!

Advanced Micro Devices, Inc. Earnings Cheat Sheet

Results: Net loss was $102 million (loss of 14 cents per diluted share) in the quarter versus a net loss of $177 million in the year-earlier quarter.

Revenue: Decreased 31.4% to $1.16 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Advanced Micro Devices, Inc. reported adjusted net loss of 14 cents per share. By that measure, the company met the mean analyst estimate of $0. It beat the average revenue estimate of $1.15 billion.

Quoting Management: “AMD continues to evolve our operating model and diversify our product portfolio with the changing PC environment,” said Rory Read, AMD president and CEO…

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business