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AMD beats earnings expectations



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Advanced micro-devices ( AMD ) reported stronger than expected financial results AMD shares rose 6% in downtime Tuesday. "data-response time =" 15 "> Advanced Micro Devices (AMD) reported stronger than expected financial results in Q1. Stocks in AMD rose 6% in retrospective trading on Tuesday.

The chip maker published an adjusted earnings per share. Share of 6 cents, which exceeded expectations of 5 cents a. Share, according to data prepared by Bloomberg.

AMD reported revenue of $ 1.27 billion, which was above consensus estimates of $ 1.26 billion in revenue. However, revenue from the Computing and Graphics segment fell by 26% the year before to $ 831 million. The company said the decline was due to lower graphics channel sales, but was offset by increased client processor and data center GPU sales.

"We delivered solid first quarter results with significant gross margin expansion, as Ryzen and EPYC processor and data center GPU revenue more than doubled year-round," said CEO Lisa Su in a statement. "We look forward to the upcoming launches of our next generation 7nm PC, games and data center products, which we expect to drive further market share gains and economic growth."

An AMD-A10-4600M series APU computer chip is displayed. Photographer: Ashley Pon / Bloomberg via Getty Images

For the second quarter, AMD expects revenue of $ 1.48 billion to $ 1.57 billion. Analyst estimates for the second quarter were $ 1.52 billion.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "AMD shares have risen 48% this year and have Exceeded Philadelphia Semiconductor Index ( ^ SOX ), which has risen 35% over the same period of time. -reactid = "31"> AMD shares have risen 48% this year and have surpassed the Philadelphia Semiconductor Index (^ SOX), which has risen 35% over the same period. AMD was the best possible stock in S&P 500 (^ GSPC) in 2018.

AMD's earnings conference call is scheduled for 5:30 pm ONE.

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<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) Heidi Chung is a reporter at Yahoo Finance. her on Twitter: @heidi_chung data-reactid = "34"> Heidi Chung is a reporter at Yahoo Finance, following her on Twitter: @heidi_chung .

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