AMD Stock Surges on Earnings Beat, Strong Revenue Guidance
Advanced Micro Devices, Inc. (AMD) just released its latest quarterly financial results, posting adjusted earnings of $0.11 per share and revenues of $1.65 billion.
Currently, AMD is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have lost about 4% over the past month, including a 3.7% loss during regular trading hours today.
The stock is currently up 7.9% to $10.46 per share in after-hours trading shortly after its earnings report was released.
Investors should note that AMD’s new financial results were reported under a new revenue accounting standard. Past results were adjusted to reflect this new standard in the report.
AMD:
Beat earnings estimates. The company posted adjusted earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.09. Investors should note that this consensus projection has trended upward over the duration of the quarter.
Beat revenue estimates. The company saw revenue figures of $1.65 billion, beating our consensus estimate of $1.55 billion. Total revenue was up 40% year over year.
Computing and Graphics segment revenue was $1.12 billion, up 95% year over year. Segment operating income was $138 million compared to an operating loss of $21 million a year ago. Enterprise, Embedded and Semi-Custom segment revenue was $532 million, down 12% from the prior-year period.
“The first quarter was an outstanding start to 2018 with 40 percent year-over-year revenue growth,” said CEO Dr. Lisa Su. “PC, gaming and datacenter adoption of our new, high-performance products continues to accelerate. We are excited about our long-term roadmaps and focused on delivering sustained revenue growth and profitability.”
For the second quarter of fiscal 2018, AMD expects revenue to fall in the range of $1.675 billion to $1.775 billion. This is higher than our current consensus estimate of $1.58 billion.
Here’s a graph that looks at AMD’s recent earnings performance:
Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise
Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise | Advanced Micro Devices, Inc. Quote
Advanced Micro Devices is a semiconductor company that develops processors, including x86-based microprocessors and graphics processing units (GPUs).
Check back later for our full analysis on AMD’s earnings report!
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