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AMD Stock Surges on Earnings Beat, Strong Revenue Guidance
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Advanced Micro Devices, Inc. (AMD - Free Report) 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 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!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Image: Bigstock
AMD Stock Surges on Earnings Beat, Strong Revenue Guidance
Advanced Micro Devices, Inc. (AMD - Free Report) 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!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>