Categories AlphaGraphs, Earnings, LATEST, Technology

AMD defies crypto blues; stock jumps as Q2 results beat street view

Semiconductor firm Advanced Micro Devices (AMD) reported upbeat earnings for the second quarter when revenues surged as the strong demand for products in the PC and server markets more than offset a slump in GPU sales to crypto miners. Following the announcement, AMD shares gained more than 5% in the after-hours trading Wednesday.

The company posted adjusted earnings of $156 million or $0.14 per share for the June-quarter, compared to a loss of $7 million or $0.01 per share in the prior-year quarter. Earnings surpassed analysts’ forecast.  During the quarter, gross margin rose by 3 percentage points to 37%, reflecting the positive response to newly launched products.

 

AMD Q2 earnings beat expectations
AMD Q2 2018 Earnings Infographic

Reported net profit was $116 million or $0.11 per share during the three-month period, compared to a loss of $42 million or $0.04 per share in the second quarter of 2017.

RELATED: AMD Q2 2018  earnings call transcript

Driving the turnaround, revenues jumped 53% to $1.76 billion and came in above Wall Street estimates. Revenues of Computing and Graphics segment surged 64% annually, aided by strong demand for the Radeon and Ryzen products. Embedded and Semi-Custom segment revenue grew 37% on higher sales of semi-custom and server products.

“We are confident that with the continued execution of our product roadmaps, we are on an excellent trajectory to drive market share gains and profitable growth,” said AMD CEO Dr Lisa Su.

The company is looking to generate $1.7 billion in revenues in the third quarter, plus or minus $50 million. Gross margin, excluding special items, is forecast to grow about 38% in the next quarter.

RELATED: AMD launches at Computex 2018

AMD’s competitor Intel is scheduled to report its second-quarter results Thursday after the market closes, while NVIDIA (NVDA) and Analog Devices (ADI) will be announcing results for their most recent quarter on August 16 and 29, respectively.

AMD shares, which gained more than 14% in the past 12 months, hit a ten-year high in mid-June, before paring some of the gains in the following weeks. The stock opened Wednesday’s trading lower but gained more than 5% in the after-hours following the earnings report.

RELATED: AMD Swings to profit in Q1

Advanced Micro Devices Q1 2018 Earnings

Most Popular

What to expect when eBay (EBAY) reports Q4 2023 earnings

Shares of eBay Inc. (NASDAQ: EBAY) stayed red on Tuesday. The stock has gained 9% over the past three months. The ecommerce company is scheduled to report its earnings results

Earnings: Walmart (WMT) Q4 results beat estimates; revenues up 5.7%

Retail giant Walmart Inc. (NYSE: WMT) on Tuesday reported higher adjusted earnings and revenue for the fourth quarter of 2024. The numbers also came in above the consensus estimates. Fourth-quarter

Home Depot (HD) Q4 2023 Earnings: Key financials and quarterly highlights

Home Depot (NYSE: HD) reported fourth quarter 2023 earnings results today. Sales were $34.8 billion, down 2.9% from the same quarter a year ago. Comparable sales decreased 3.5%.  Net earnings were $2.8

Comments

  1. Pingback: Leandro Farland
  2. Pingback: Chirurgie Tunisie
  3. Pingback: Chirurgie Tunisie
  4. Pingback: Immunizations
  5. Pingback: fue
  6. Pingback: Dr. Khaled Azazy
  7. Pingback: fue
  8. Pingback: MBA degree Cairo
  9. Pingback: MBA in FUE
  10. Pingback: Future University
  11. Pingback: Career Fairs
  12. Pingback: presse pectoraux
  13. Pingback: metanail
  14. Pingback: lean biome
  15. Pingback: Fiverr Earn
  16. Pingback: fiverrearn.com
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: cortexi
  20. Pingback: clima para mañana
  21. Pingback: fiverrearn.com
  22. Pingback: fiverrearn.com
  23. Pingback: crypto news
  24. Pingback: future university
  25. Pingback: future university
  26. Pingback: french bulldogs
  27. Pingback: Warranty
  28. Pingback: FUE
  29. Pingback: FUE
  30. Pingback: Commercial moving
  31. Pingback: Local movers
  32. Pingback: where is bali
  33. Pingback: Classic Books 500
  34. Pingback: Fiverr
  35. Pingback: Fiverr.Com
  36. Pingback: Fiverr
  37. Pingback: FiverrEarn
  38. Pingback: FiverrEarn
  39. Pingback: FiverrEarn
  40. Pingback: Aussie porn
  41. Pingback: partners
  42. Pingback: Political Science
  43. Pingback: bulldog frances
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: live sex cams
  47. Pingback: live sex cams
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: Cow
  59. Pingback: sns
  60. Pingback: business
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: FiverrEarn
  64. Pingback: biovanish scam
  65. Pingback: cheap sex cams
  66. Pingback: french bulldog

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top