Categories LATEST

Advanced Micro Devices (AMD) reports in-line Q3 earnings; stock dips on weaker Q4 outlook

Advanced Micro Devices (NASDAQ: AMD) reported third quarter of 2019 results in which earnings were in line with the market’s estimates. However, revenue missed the targets. The semiconductor giant posted adjusted earnings of $0.18 per share on revenue of $1.80 billion.

Analysts had projected the company to earn $0.18 per share on revenue of $1.81 billion for the third quarter. AMD stock rose about 3% immediately after the earnings announcement in the extended trading session. However, shares of AMD turned to red as the company provided dismal outlook for fourth quarter of 2019.

Advanced Micro Devices (AMD) Q3 2019 earnings; provides weaker Q4 outlook

GAAP net income per share in the recently ended quarter increased to $120 million or $0.11 per share from net income of $102 million or $0.09 per share in the year-ago quarter.

Revenue growth of 9% in the three months ended September 30, 2019, was helped by Computing and Graphics segment revenue growth of 36%, which was primarily driven by increased Ryzen client processor sales.

For the fourth quarter of 2019, AMD expects revenue to be approximately $2.1 billion, plus or minus $50 million, representing an year-over-year increase of 48%. This revenue growth is expected to be driven by an increase in Ryzen, EPYC and Radeon product sales. AMD expects non-GAAP gross margin to be approximately 44% in the fourth quarter of 2019.

“Our first full quarter of 7nm Ryzen, Radeon and EPYC processor sales drove our highest quarterly revenue since 2005, our highest quarterly gross margin since 2012 and a significant increase in net income year-over-year,” said CEO Lisa Su.

Also Read:  Trxade launches integrated COVID-19 risk assessment tool for corporate clients

AMD stock had rallied 79% so far this year and 96% in the trailing 12 months.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Novavax (NVAX) tops Q2 2020 bottom line targets, misses revenue views

Novavax (NASDAQ: NVAX) reported a loss of $17.5 million or $0.30 per share for the second quarter of 2020. Revenue jumped to $35.54 million in Q2 from $3.36 million in

Tilray Q2 loss widens despite revenue growth; results miss

https://www.youtube.com/watch?v=KqNZ-_X4F8k&t=2s Cannabis company Tilray, Inc. (NASDAQ: TLRY) Monday reported a wider net loss for the second quarter of 2020, despite a marked increase in revenues. Revenues of the Canada-based company

Infographic: Duke Energy Q2 2020 Earnings Results

Duke Energy (NYSE: DUK) reported second-quarter financial results before the market opened on Monday.  The energy holding company surpassed earnings expectations by 5 cents per share during the quarter. DUK

One thought on “Advanced Micro Devices (AMD) reports in-line Q3 earnings; stock dips on weaker Q4 outlook

Comments are closed.

Top