AMD Beats Revenue and Outlook Estimates as Shares Jump More Than 9%

Advanced Micro Devices (AMD) beat Wall Street's third-quarter revenue and earnings forecasts and projected fourth-quarter sales above estimates, sending its shares up more than 9% at one point in after-hours trading. Revenue rose 45% from a year earlier to $13.38 billion, above the $13.09 billion estimate. Adjusted earnings were $2.09 per share, topping the $1.95 forecast. Data center revenue climbed 97% to a record $8.55 billion, exceeding the $8.2 billion estimate. Client and gaming revenue fell 8% to $3.72 billion, below the $3.79 billion estimate. AMD forecast fourth-quarter revenue of about $17 billion, compared with an estimate of $16.23 billion.

Source: TokenPost