Advanced Micro Devices, Inc. (NASDAQ: AMD) reported in-line earnings for the first quarter of 2020 even as revenues climbed 40%.
The top-line rose to $1.79 billion from $1.27 billion last year and came in line with the Street view. Adjusted net income was $0.18 per share, compared to $0.06 per share a year earlier. The bottom-line matched analysts’ forecast.
Net income, including special items, jumped to $162 million or $0.14 per share from $16 million or $0.01 per share in the first quarter of 2019.
Shares of Advanced Micro Devices closed Tuesday’s regular session lower, and continued to lose during the extended session, following the earnings announcement. The stock has almost doubled to $55.5 in the past twelve months.
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