[ad_1]
Shares of Advanced Micro Device (AMD – Get Report) were up after trading hours on Tuesday after the company beat estimates of the first and last business figures for the first quarter of 2019.
Equities rose 5.5% to $ 29.15 after a 0.51% decrease in normal hours.
Adjusted earnings per share was 6 cents, compared with 5 cents on Wall Street. Revenues were $ 1.27 billion, exceeding analysts' expectations of $ 1.26 billion. Earnings per share represents a year-over-year decline from 11 cents in the first quarter of the previous year. Revenues also decreased from $ 1.65 billion in the same period last year.
Computer and graphics products reached $ 831 million, but expectations were $ 856 million. The company's semi-custom and semi-custom business rose to $ 441 million, exceeding estimates by $ 410 million.
"We recorded strong first quarter results and a significant increase in our gross margin, with processor and data processor revenues and EPYC processors and data centers more than doubling compared to the previous year" said Lisa Su, President and CEO of AMD. "We look forward to the upcoming launches of our next-generation 7nm PC, games and data center products, which are expected to generate further market share gains and financial growth."
Some analysts have warned that AMD could steal market share from Intel (INTC – Get Report), which has guided its revenue projection for 2019 down a few days ago.
AMD's management posted second quarter revenue of approximately $ 1.52 billion, plus or minus $ 50 million. Analysts surveyed by FactSet were looking for $ 1.51 billion.
The stock is up more than 45% this year.
[ad_2]
Source link