AMD Earnings: Tops Analyst Estimates, Stock Pops
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%.
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…