AMD revenue forecast falls short of estimates, shares sink [Reuters (UK)]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: Reuters
AMD revenue forecast falls short of estimates, shares sink | Reuters 2 Min Read (Reuters) - Advanced Micro Devices Inc ( AMD.O ) on Wednesday forecast fourth-quarter revenue below estimates as the chipmaker wrestled with waning demand from cryptocurrency miners for its high-margin graphic processors, sending its shares down 21 percent. AMD said it expected revenue of about $1.45 billion, plus or minus $50 million, below analysts’ estimates of $1.6 billion, according to Refinitiv data. The chipmaker said sales in its graphics and computing business rose 12 percent to $938 million, but sales in its enterprise, embedded and semi-custom unit fell 5 percent to $715 million. AMD said strong sales of Ryzen chips were partially offset by lower revenue from its graphics business, where blockchain-related GPU sales were negligible. With cryptocurrency prices in free fall due to regulatory worries, miners are cutting back on their investments in equipment, hurting the company and chief gaming
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AMD
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- 1/30/24 - Beat
AMD
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/15/24 - Form 144
- AMD's page on the SEC website