AMD (AMD) Reports 15% Stock Surge on Strong Earnings Guidance
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowAdvanced Micro Devices Inc. (AMD) posted Q1 results with earnings per share of $1.37, exceeding the $1.29 estimate, and revenue of $10.25 billion, surpassing expectations of $9.89 billion. The company reported a 38% revenue increase from $7.44 billion a year ago, driven by a 57% rise in data center sales to $5.8 billion. For Q2, AMD anticipates revenue of approximately $11.2 billion, exceeding the $10.52 billion forecast. CEO Lisa Su emphasized data center growth as a primary driver for revenue and earnings, contributing to a stock increase of 15% after hours.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Advanced Micro Devices Inc. (AMD)
Advanced Micro Devices designs CPUs and GPUs that compete with Intel and Nvidia across PCs, gaming consoles, data centers, and AI workloads.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier AMD news
- Zyphra Launches AI Platform Using AMD GPUs
- HSBC Downgrades AMD (AMD) to Hold on Valuation Concerns
- Palantir (PLTR) and AMD Earnings Reports Expected Next Week
- Deutsche Bank Holds AMD (NASDAQ:AMD) Target at $250 Ahead of Q1
- Market Outlook: Earnings Week Ahead for Major Techs and AMD
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