AMD stock rallies more than 4% on earnings beat

Advanced Micro Devices Inc. shares surged in the extended session Tuesday after the chip maker’s results topped Wall Street estimates.

AMD AMD shares rallied more than 4% after hours, following a 2.9% gain to close the regular session at $117.66. Analysts surveyed by FactSet expect adjusted second-quarter earnings of 57 cents a share on revenue of $5.32 billion. The company had forecast $5 billion to $5.6 billion in revenue and second-quarter gross margins of about 50%.

“Looking to the third quarter, we expect our Data Center and Client segment revenues to each grow by a double-digit percentage sequentially driven by increasing demand for our EPYC and Ryzen processors, partially offset by Gaming and Embedded segment declines,” said Jean Hu, AMD’s chief financial officer, in a statement.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

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.
Bron: MarketWatch - 🏆 3. / 97 Lees verder »

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.
Bron: Forbes - 🏆 394. / 53 Lees verder »

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.
Bron: CNBC - 🏆 12. / 72 Lees verder »