AMD stock rose Wednesday after the chipmaker reported stronger-than-expected data center chip sales in the fourth quarter. But Advanced Micro Devices ( AMD ) tempered that news with soft guidance for the current period. The Santa Clara, Calif.-based company late Tuesday said it earned an adjusted 69 cents a share on sales of $5.6 billion in the December quarter. Analysts polled by FactSet had expected AMD earnings of 67 cents a share on sales of $5.51 billion. On a year-over-year basis, AMD earnings fell 25% while sales rose 16%. The acquisition of Xilinx boosted revenue and helped offset declining PC and gaming chip sales. In the fourth quarter, AMD’s PC chip sales dropped 51% year over year to $903 million amid weak personal computer demand. Gaming segment revenue slid 7% to $1.6 billion. Meanwhile, data center chip sales increased 42% to $1.7 billion, driven by Epyc server processors. AMD Stock Rises After Report For the current quarter, AMD predicted sales of $5.3 billion, down 10% year over year. Analysts were looking for $5.5 billion in the first quarter. On the stock market today , AMD stock jumped 12.6% to close at 84.64. During the regular session Tuesday, AMD stock […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
