AMD earnings on deck with AI ramp, China export restrictions in focus

📆 10/31/2023 10:58 AM
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AMD, which is looking to ramp its new generation of AI chips, will post fiscal first quarter earnings after the close of trading Tuesday.

shares edged modestly higher in pre-market trading ahead of the chipmaker's first quarter earnings, which are expected after the closing bell.

CEO Lisa Su pegged September quarter revenues in the region of $5.7 billion, plus or minus $300 million, with gross margins of around 51%, when she last spoke with investors in early August. The new chips are expected to ship in volumed by the fourth quarter of this year, with reports suggesting Amazon

Investors will also look for a detailed impact from expanded restrictions on the sale of advanced technologies to China, unveiled earlier this month by U.S. Trade Secretary Gina Raimondo.

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AMD Reports Earnings Today. What to Expect.The consensus is that Advanced Micro Devices will report quarterly revenue of $5.7 billion with adjusted earnings per share of 68 cents.
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