AMD stock rises 3% after earnings beat, CEO predicts 'multiple winners' in AI race

Advanced Micro Devices Inc. shares surged in the extended session Tuesday after the chip maker’s results topped Wall Street estimates, and the company’s chief executive said there will be “multiple winners” in the AI arms race.

AMD Chief Executive Lisa Su told analysts on the conference call that the better-than-expected results in PC sales, following pandemic highs and then inventory write-downs, stems from “the strength of our product portfolio.” Second-quarter revenue fell to $5.36 billion from $6.55 billion a year ago, and gross margins fell to 50% from 54% a year ago. Last quarter, AMD forecast a strong showing from its AI and data-center products for the second half of the year but admitted it will take a rebound in the PC market to improve gross margins.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

AMD stock rallies more than 4% on earnings beatAdvanced Micro Devices Inc. shares surged in the extended session Tuesday after the chip maker's results topped Wall Street estimates.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

Women’s Rights Champion Faye Wattleton Took A Quantum Leap To Cofound An Advanced Computing CompanyFaye Wattleton was the first Black woman to run Planned Parenthood. Forty-five years later, at 80 years old, she is using her experience leading nonprofits to fuel a for-profit tech startup—and in so doing, is providing a path for others looking to pivot.
Sumber: Forbes - 🏆 394. / 53 Baca lebih lajut »

AMD earnings: Here are the numbers to watchChip maker Advanced Micro Devices Inc. reports second-quarter earnings after the bell Tuesday. Here are some of the key numbers to watch.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

AMD revenue falls 18% as PC market shows continued weaknessAMD reported an 18% decline in year-over-year revenue in the second quarter and issued a sales forecast that trailed analysts' estimates.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »