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Advanced Micro: 4Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter earnings of $38 million.

The Santa Clara, California-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.

The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The chipmaker posted revenue of $1.42 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $1.44 billion.

For the year, the company reported profit of $337 million, or 32 cents per share. Revenue was reported as $6.48 billion.

For the current quarter ending in April, Advanced Micro said it expects revenue in the range of $1.2 billion to $1.3 billion. Analysts surveyed by Zacks had expected revenue of $1.45 billion.

Advanced Micro shares have increased slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.25, an increase of 45 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD