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Home / Business / AMD exceeds estimates for the second quarter, the stock jumps after hours

AMD exceeds estimates for the second quarter, the stock jumps after hours



Advanced Micro Devices (AMD) made a profit in the second quarter of this year after losing a penny in the same quarter last year and placing shares in after-hours trading on Wednesday, July 25.

Stocks The chipmaker increased 17% after hours before the company's earnings statement at 17:30 ET.

AMD reported non-GAAP earnings of 14 cents per share, up 53% year-on-year to $ 1.76 billion. Analysts said the company expects a profit of 13 cents per share on revenue of $ 1.72 billion.

Operating expenses of $ 467 million amounted to $ 186 million and a net profit of $ 156 million.

For the third quarter, AMD expects sales of approximately $ 1

.7 billion, plus or minus $ 50 million, an increase of approximately 7 percent year-over-year and a non-GAAP gross margin of approximately 38 percent. According to FactSet analysts expected in the third quarter, a turnover of 1.764 billion US dollars.

The company said third-quarter revenue growth would be driven by its Ryzen and EPYC products, but would be offset in part by lower sales of GPU products in the blockchain

"We had an outstanding second quarter with strong sales growth, margin expansion and our highest quarterly net income in seven years, "said Dr. Lisa Su, President and CEO of AMD. "Above all, we believe that our long-term technology bets position us very well for the future, and we are confident that we can continue our track record of profitable market share and profitable growth by continuing to implement our product roadmaps." 19659008]
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