Categories AlphaGraphs, Earnings, Technology

Earnings: Advanced Micro Devices (AMD) Q3 profit drops; revenue up 29%

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in third-quarter earnings, despite an increase in revenues. The latest numbers missed the market’s expectations.

Advanced Micro Devices Q3 2022 earnings infographic

Earnings, excluding special items, dropped to $0.67 per share in the most recent quarter from $0.73 per share in the third quarter of 2021 and also fell short of estimates. Net income, on a reported basis, was $66 million or $0.04 per share, compared to $923 million or $0.75 per share in the prior-year period.


Check this space to read management/analysts’ comments on AMD’s Q3 2022 results


Third-quarter revenues climbed to $5.57 billion from $4.31 billion in the corresponding period of last year. The top line, however, missed Wall Street’s prediction.

“Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded, and game console products. We are confident that our leadership product portfolio, strong balance sheet, and ongoing growth opportunities in our data center and embedded businesses position us well to navigate the current market dynamics,” said AMD’s CEO Lisa Su.

_________________________________________________________________________________________________________________

Stocks you may like:

Apple (AAPL) Stock

Microsoft (MSFT) Stock

Alphabet (GOOGL) Stock

International Business Machines Corp. (IBM) Stock

_________________________________________________________________________________________________________________

Most Popular

Snowflake (SNOW) appears to be on solid footing despite cloud slowdown

The cloud computing market witnessed accelerated growth in the last couple of years, as enterprises across the world shifted their digital assets to cloud for ensuring safety and enhancing data

Dollar Tree (DLTR) vs. Dollar General (DG): How did the third quarter turn out for these discount retailers?

In times of high inflation and economic uncertainty, consumers tend to turn to discount retailers in search of more value. The two leading discount retailers Dollar Tree Inc. (NASDAQ: DLTR)

Kroger (KR) looks set to start 2023 with new vigor. Is the stock a buy?

The retail environment has witnessed many changes in customers’ shopping behavior lately, especially after the COVID outbreak. With inflation putting pressure on personal finances, there appears to be a new

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