Shares in Advanced Micro Devices dropped almost 9% in Europe on Wednesday after the company's chief executive forecast a decline in data centre sales - a proxy for the chipmaker's revenue from the artificial intelligence sector.
Advanced Micro Devices Inc (NASDAQ: AMD) is taking a hit in after-hours on Tuesday despite reporting market-beating financial results for its fiscal fourth quarter. Investors are responding primarily to a 69% year-on-year increase in the company's data centre sales to $3.86 billion, which fell short of $4.14 billion that analysts had forecast.
Advanced Micro Devices (AMD) topped Wall Street's fourth-quarter profit and revenue expectations but posted data center sales below estimates, sending the chipmaker's shares tumbling in extended trading on Tuesday.
AMD did not break out a specific revenue number or forecast for its AI chips, a move that is bothering investors.
Advanced Micro Devices (AMD) posted fourth-quarter revenue and adjusted earnings that beat expectations, but data center sales came up short.
Advanced Micro Devices, Inc. (NASDAQ:AMD ) Q4 2024 Earnings Conference Call February 4, 2025 5:00 PM ET Company Participants Matt Ramsey - IR Lisa Su - Chair and CEO Jean Hu - EVP, CFO and Treasurer Conference Call Participants Aaron Rakers - Wells Fargo Timothy Arcuri - UBS Vivek Arya - Bank of America Securities Joshua Buchalter - TD Cowen & Company Harlan Sur - JPMorgan Blayne Curtis - Jefferies Stacy Rasgon - Bernstein Research Toshiya Hari - Goldman Sachs Operator Greetings, and welcome to the AMD Fourth Quarter and Full Year 2024 Conference Call. At this time all participants are in a listen-only mode.
Advanced Micro Devices, Inc. is growing fast and trades below fair value. Reported strong results on Tuesday afternoon. The company did especially well in the data center market. Its Q4 earnings are growing fast while the valuation is low.
Google parent Alphabet (GOOGL) posted beats on both top and bottom lines after today's close.
While the top- and bottom-line numbers for Advanced Micro (AMD) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Advanced Micro Devices (AMD) came out with quarterly earnings of $1.09 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $0.77 per share a year ago.
AMD says that it plans to launch its next major data center GPUs, the AMD Instinct MI350 series, sooner than originally announced.
Advanced Micro Devices (AMD) posted fourth-quarter revenue and adjusted earnings that beat expectations, but data center sales came up short.