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Advanced Micro Devices Inc. (AMD - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of a loss of 4 cents per share and revenues of $1.11 billion. Currently, AMD is a Zacks Rank #2 (Buy), and is up 2.31% to $10.60 per share in trading shortly after its earnings report was released.
Matched earnings estimates. The company posted non-GAAP earnings of a loss of 4 cents per share, matching the Zacks Consensus Estimate of a loss of 4 cents per share. This number excludes 2 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $1.11 billion, topping our consensus estimate of $1.070 billion and gaining 15% year-over-year, primarily due to higher GPU sales.
AMD posted non-GAAP gross margin of 32%, up 2 percentage points year-over-year and up 1 percentage point sequentially thanks to higher Computing and Graphics segment revenue.
Looking ahead to Q1 2017, AMD expects revenue to fall 11% sequentially, give or take 3%. AMD notes that the midpoint of guidance would result in this period’s revenue increasing 18% year-over-year.
“We met our strategic objectives in 2016, successfully executing our product roadmaps, regaining share in key markets, strengthening our financial foundation, and delivering annual revenue growth,” said Dr. Lisa Su, AMD president and CEO. “As we enter 2017, we are well positioned and on-track to deliver our strongest set of high-performance computing and graphics products in more than a decade.”
Here’s a graph that looks at Advanced Micro Devices’ price, consensus, and EPS surprise:
Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise
Advanced Micro Devices is a world-class company with the innovation, execution, and vision to grow our leadership position in the industry. Over the course of AMD's three decades in business, silicon and software have become the steel and plastic of the worldwide digital economy. Technology companies have become global pacesetters, making technical advances at a prodigious rate always driving the industry to deliver more and more, faster and faster. AMD's dedication to customer-centric innovation and competitive spirit is an unbroken thread running from our early days in the integrated circuit business, through an ever-broadening product portfolio.
Zacks' Top 10 Stocks for 2017
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Advanced Micro (AMD) Q4 Earnings In-Line, Graphics Segment Drives Growth
Advanced Micro Devices Inc. (AMD - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of a loss of 4 cents per share and revenues of $1.11 billion. Currently, AMD is a Zacks Rank #2 (Buy), and is up 2.31% to $10.60 per share in trading shortly after its earnings report was released.
Matched earnings estimates. The company posted non-GAAP earnings of a loss of 4 cents per share, matching the Zacks Consensus Estimate of a loss of 4 cents per share. This number excludes 2 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $1.11 billion, topping our consensus estimate of $1.070 billion and gaining 15% year-over-year, primarily due to higher GPU sales.
AMD posted non-GAAP gross margin of 32%, up 2 percentage points year-over-year and up 1 percentage point sequentially thanks to higher Computing and Graphics segment revenue.
Looking ahead to Q1 2017, AMD expects revenue to fall 11% sequentially, give or take 3%. AMD notes that the midpoint of guidance would result in this period’s revenue increasing 18% year-over-year.
“We met our strategic objectives in 2016, successfully executing our product roadmaps, regaining share in key markets, strengthening our financial foundation, and delivering annual revenue growth,” said Dr. Lisa Su, AMD president and CEO. “As we enter 2017, we are well positioned and on-track to deliver our strongest set of high-performance computing and graphics products in more than a decade.”
Here’s a graph that looks at Advanced Micro Devices’ price, consensus, and EPS surprise:
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 world-class company with the innovation, execution, and vision to grow our leadership position in the industry. Over the course of AMD's three decades in business, silicon and software have become the steel and plastic of the worldwide digital economy. Technology companies have become global pacesetters, making technical advances at a prodigious rate always driving the industry to deliver more and more, faster and faster. AMD's dedication to customer-centric innovation and competitive spirit is an unbroken thread running from our early days in the integrated circuit business, through an ever-broadening product portfolio.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>