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Shares of Advanced Micro Devices Inc. jumped during the extended session on Tuesday after the chip maker surpassed Wall Street's forecast for the quarter.
AMD's shares rebounded 5% after normal hours, following a 0.2% decline to close the regular session at $ 27.63. In comparison, the PHLX Semiconductor Index
SOX, + 0.76%
closed up 0.8%, the S & P 500 index
SPX, + 0.10%
closed up 0.1%, and the Nasdaq Composite Index
COMP -0.81%
finished down 0.8%.
The company reported a net profit of $ 16 million in the first quarter, or 1 cent per share, compared to $ 81 million, or 8 cents a share, for the same period last year. Adjusted earnings was 6 cents per share. Of the 28 analysts surveyed by FactSet, AMD is expected to average an adjusted profit of 5 cents per share.
Revenues declined to $ 1.27 billion from $ 1.65 billion in the same quarter last year. According to analysts surveyed by FactSet, Wall Street is expected to generate a turnover of 1.26 billion US dollars on Wall Street.
"We had solid first quarter results and a significant increase in our gross margin, while revenues from EPYC processors and data processors and processors and data centers more than doubled from year-to-date. last, "said Lisa Su, President and CEO of AMD. "We look forward to the forthcoming launches of our next generation 7nm computer, gaming and data center products, which are expected to generate further market share gains and financial growth."
The company said that the decline in its business year-on-year was "mainly due to the decline in sales of the graphics channel, partially offset by an increase in sales of processors customers and GPU data centers ".
Computer and graphics sales declined to $ 831 million from $ 1.12 billion in the same quarter of the previous year. Analysts surveyed by FactSet were expecting a 23% drop in computer and graphics sales, to $ 855.7 million from the same quarter of the previous year.
Company sales, integrated and semi-personalized, increased from 532 million USD to 441 million USD for the same period of the previous year. Analysts expected $ 410.2 million.
For the second quarter, AMD forecasts revenues of between $ 1.47 and $ 1.57 billion, while analysts expect a turnover of $ 1.51 billion.
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