AMD reported earnings as many of its rival chipmakers have stumbled in recent weeks, citing lower consumer demand for finished electronics.
on Tuesday, beating Wall Street expectations for sales and profit, but guided analysts to a 10% decline in year-over-year sales in the current quarter. The stock rose over 3% in extended trading. Here's how the company did versus Refinitiv consensus estimates for the quarter ending in December:Revenue: $5.6 billion, versus $5.5 billion expected
AMD attributed its beat to strong growth in its embedded and data center businesses, and said that its client revenue, or chips for PCs and laptops, and its gaming segment were down.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Computer Chip Wars: How AMD Ended Intel's Market DominanceWatch: When you think of computer chips, you probably think of Intel. But in 2022, the company gave up its top spot in market value to a rival: AMD. We explain why.
Read more »
Here are Tuesday's biggest analyst calls: Apple, Alphabet, Ford, Lucid, AMD, Uber & moreAnalyst call of the day for CNBCPro subscribers: Bank of America reiterates Alphabet as buy and said it continues to pull the right “cost levers in a tough environment.” Subscribe to see the analyst calls of the day curated by CNBC Pro.
Read more »
Stock Market News: Boeing delivers last 747, stocks lower on Tuesday, AMD reports todayThe Boeing company is delivering last 747 jumbo jet to Atlas Air as stocks open lower on Wall Street
Read more »
AMD stock rises on better-than-feared quarterAdvanced Micro Devices Inc. shares rose in the extended session Tuesday after the chip maker’s data-center sales gains countered a big hit to PC sales...
Read more »
Galveston police chief placed on administrative leave amid internal investigationThe Galveston police chief was put on administrative leave for 10 days and his conduct is...
Read more »
10 years since Hadiya Pendleton killed in Kenwood shooting weeks after attending Obama inaugurationThe 15-year-old had just left a final exam, joining friends at Harsh Park, when a car pulled up and shot at the group.
Read more »