AMD stock jumps 8% after earnings beat [MarketWatch]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: MarketWatch
AMD stock jumps 8% after earnings beat Advanced Micro Devices Inc. AMD, -3.77% reported higher profit than expected in an earnings report Wednesday, sending shares about 8% higher in after-hours trading. The chip maker, which has faced concerns about potential decreases in revenue from cryptocurrency mining, reported first-quarter net income of $81 million, or 8 cents a share, on sales of $1.65 billion, up about 40% from $1.34 billion a year ago. After adjusting for stock-based compensation and other factors, the company claimed earnings of 11 cents a share. Analysts on average were expecting adjusted earnings of 9 cents a share on sales of $1.57 billion, according to FactSet. AMD also predicted stronger revenue in the current quarter than analysts expected, guiding for revenue of $1.68 billion to $1.78 billion, while analysts were forecasting $1.58 billion. AMD stock gained about 8% after closing with a 3.8% decline at $9.71; shares have declined 28% in the past year, as the S&P 5
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AMD
Earnings
- 1/30/24 - Beat
AMD
Sec Filings
- 3/25/24 - Form ARS
- 3/25/24 - Form DEFA14A
- 3/25/24 - Form DEF
- AMD's page on the SEC website