Categories AlphaGraphs, Earnings, Technology
Advanced Micro Devices (AMD) Q2 earnings beat on 26% revenue growth; stock gains
Advanced Micro Devices, Inc. (NASDAQ: AMD) reported better-than-expected earnings for the second quarter of 2020 as revenues climbed 26%, mainly reflecting strong performance by the Computing and Graphics segment.
The top-line rose to $1.93 billion from $1.53 billion last year and came in above the Street view. Adjusted net income was $0.18 per share, compared to $0.08 per share a year earlier. The bottom-line also exceeded analysts’ forecast.
Net income, including special items, jumped to $157 million or $0.13 per share from $35 million or $0.03 per share in the second quarter of 2019.
Shares of Advanced Micro Devices closed Tuesday’s regular session lower, but made strong gains during the extended session following the earnings announcement.
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