Advanced Micro Devices Inc. shares dropped 5% in Tuesday’s extended session after the company posted upbeat profit metrics for the latest quarter but came up short with its revenue forecast for the current period.
On an adjusted basis, AMD AMD, +2.41% earned 70 cents a share, up from 67 cents a share a year before, while analysts tracked by FactSet were expecting 68 cents a share. Revenue for that segment was up 21% sequentially, however. “Our data-center business is on a significant growth trajectory based on the strength of our Epyc CPU portfolio and the ramp of Instinct MI300 accelerator shipments to support multiple deployments with hyperscale, enterprise and AI customers,” Chief Executive Lisa Su said in a release.
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