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Advanced Micro Devices, Inc. (AMD - Analyst Report) is scheduled to announce its first-quarter 2012 results on April 19, 2012. We witness only 1 upward movement in the analysts’ estimates in the build-up to the release.
Revenue came in at $1.69 billion, flat sequentially and up 2.5% from the year-ago quarter. In the last quarter, the company benefited from strength in its new products viz, Brazos, Bulldozer and Llano but could not meet its guidance of a 3% sequential increase due to
Gross margin was up 98 basis points (bps) sequentially and 65 bps year over year to 45.7%, driven by higher ASPs and a favorable mix. Operating margins also expanded in the quarter on lower operating expenses and solid cost management.
First Quarter Guidance
(Detailed earnings results can be viewed in the blog titled: Few Bright Spots in AMD’s Q4
Agreement of Analysts
Out of the 24 analysts providing estimates for the first quarter, none revised the estimates in the last 30 days. Over the same period, only 1 analyst made an upward revision for fiscal 2012.
With the Gartner report indicating an improving PC environment and hard drive shortages recovering a bit faster than anticipated by many, the majority of analysts believe that
On the other hand, a handful of analysts expect first quarter revenue to be above the Street consensus estimate of $1.56 billion. They expect the upside to come from further share gains in entry-level notebooks (Brazos) and continued growth in servers. The analysts believe that once the macro environment improves,
However, the majority of analysts believe that the company will be limited by stiff competition from Intel Corp. (INTC - Analyst Report). They remain concerned about share losses to Intel, as Intel rolls out a number of new products including 22nm IvyBridgefor PC clients and Romley for servers.
Magnitude of Estimate Revisions
In the past 30 days, there was no change in the Zacks Consensus Estimate for the first quarter, although the estimate for fiscal 2012 increased a penny to 66 cents.
Over the 90-day period, the Zacks Consensus Estimate fell by a penny to 9 cents for the first quarter but increased 7 cents to 66 cents for fiscal 2012.
However, Intel also has some new products lined up, which along with its growing capacity and lead at 22nm, should keep it ahead of
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