logo-loader
viewAdvanced Micro Devices, Inc.

Advanced Micro Devices shares rally after chipmaker's quarterly results and outlook top forecasts

The Nasdaq-listed company reported fourth-quarter net income of US$61mln, or 6 US cents a share, compared with a loss of US$51mln, or 6 US cents a share a year earlier

Microchips
That beat consensus estimates for earnings of 5 US cents, with the tech group’s adjusted earnings coming in at 8 US cents a share

Advanced Micro Devices Inc. (NASDAQ:AMD) shares rallied in early trading on Wednesday, having retreated on Tuesday even though the chipmaker's quarterly results and outlook – released after-hours - topped forecasts.

The Nasdaq-listed company reported fourth-quarter net income of US$61mln, or 6 US cents a share, compared with a loss of US$51mln, or 6 US cents a share a year earlier.

READ: Advanced Micro Devices Inc shares make a dash after Macquarie upgrade

That beat consensus estimates for earnings of 5 US cents, with the tech group’s adjusted earnings coming in at 8 US cents a share.

AMD’s fourth-quarter revenue rose to US$1.48bn, up from US$1.11bn at the same stage last year, and also beating the consensus estimate of US$1.41bn.

The chipmaker said it estimates its first-quarter revenue to be US$1.5bn to US$1.6bn, above the current consensus estimate of US$1.25bn.

AMD shares dropped 5% in after-hours trade on Tuesday, reflecting big falls on Wall Street, but with the market bouncing back on Wednesday, the shares were up 5.5% in early trading at US$13.58.

 -- Updates share price --

Quick facts: Advanced Micro Devices, Inc.

Price: 52.34 USD

NASDAQ:AMD
Market: NASDAQ
Market Cap: $61.3 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Electric vehicle sales to accelerate following coronavirus pandemic

Roskill analyst Jose Lazuen tells Proactive London's Andrew Scott severe falls were expected in EV sales but that European and Chinese policies coupled with consumer preferences have shown them to remain strong. He adds that policy is going to favour and push EV sales in certain jurisdictions...

2 days, 3 hours ago

2 min read