viewAdvanced Micro Devices, Inc.

AMD shares soar after semi-conductor company's first-quarter profits exceeds expectations

AMD's earnings swung to a profit of $0.11, compared with a loss a year ago

semi-conductor chips
AMD is up 8.4% in post-market trade

Shares of Advanced Micro Devices (NASDAQ:AMD), the U.S. semiconductor company, rallied in post-market trade Wednesday after the group’s first-quarter profit exceeded Wall Street’s estimates.

For the first three months of the year, AMD’s net income was $121 million, up from $2 million in the year-ago quarter. Its diluted earnings were $0.08 per share, compared with a loss of $0.04 a per share a year ago and $0.02 in the prior quarter. On an adjusted basis, the company earned US$0.11 per share.

Revenue climbed to US$1.65bn, up from US$1.18bn in the year-ago quarter

Analysts had expected Advanced Micro Devices to report earnings of $0.09 per share on revenue of US$1.6bn. 

AMD is also forecasting higher revenue in the second quarter than analysts expected and is projecting revenue of $1.68bn to $1.78bn, while analysts had been expecting $1.58 billion.

The semiconductor industry is having its share of troubles as companies like Google, Apple and Facebook are now putting more money towards making chips themselves.

Shares in AMD closed down 3.85% at US$9.71, but later climbed 8.4% after the bell to US$10.53.

Quick facts: Advanced Micro Devices, Inc.

Price: 56.72 USD

Market: NASDAQ
Market Cap: $66.44 billion

Add related topics to MyProactive

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


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...



Australian Vanadium confirms ‘exceptional’ vanadium extraction in test work

Australian Vanadium Ltd (ASX:AVL) (OTCMKTS:ATVVF) managing director Vincent Algar speaks to Proactive about recent pilot test-work conducted at the Australian Vanadium Project, which delivered leach extraction of up to 94.7%. The pilot-scale roast and leach testing has confirmed the...

16 hours, 25 minutes ago

2 min read