AMD stock is sliding after earnings, and these numbers show why

Advanced Micro Devices Inc. shares tumbled nearly 7% in after-hours trading Tuesday, after the chip maker reported a big drop in margins and provided a forecast that doesn’t suggest immediate improvement.

AMD AMD reported a first-quarter net loss of $139 million and revenue fell to $5.3 billion, fueled by big declines in PC sales and gaming. After a big boom in sales during the COVID-19 pandemic, PC sales dropped in 2022 and sank 29% in the first quarter of 2023. Full earnings coverage: ‘AI for us is broader than cloud,’ AMD CEO says, but chip maker still needs PC recovery to improve margins

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMD faces doubts after Intel earnings: Is the bar set too high?Advanced Micro Devices Inc. won't have the dismally low expectations that Intel Corp. had to clear last week when it reports its results.
Source: MarketWatch - 🏆 3. / 97 Read more »

AMD shares sink on forecast miss as PC market remains weakAdvanced Micro Devices shares slumped on Tuesday after the chipmaker forecast quarterly sales below estimates due to a weak PC market, overshadowing the company's optimism that the chip market would start to recover in the second half of 2023.
Source: Reuters - 🏆 2. / 97 Read more »