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Chip maker Advanced micro systems (AMD) Wednesday night corresponded to Wall Street's estimate of third-quarter earnings, but lacked prospects for the turnover. He also underestimated fourth-quarter sales. AMD action fell sharply in the extended trading.
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The company, based in Santa Clara, California, posted an adjusted profit of 13 cents per share for a turnover of 1.65 billion dollars in September. Analysts expected to earn 13 cents per share for a turnover of $ 1.7 billion. In the quarter of the previous year, AMD had gained 10 cents per share for $ 1.64 billion in revenue.
In the fourth quarter, AMD expects sales to increase by 8% over the previous year to $ 1.45 billion. But Wall Street had $ 1.6 billion in revenue.
Advanced Micro Devices has not set a earnings per share goal. Analysts on average expected to earn 11 cents a share in December.
The AMD share has collapsed 23% after trading hours on the stock market today. During the regular session, AMD declined 9.2% to 22.79.
Sales of graphics chips are disappointing
AMD's third quarter revenues increased 4% from the previous year, but decreased 6% from the second quarter. He attributed this decline to sales of graphics chips below expectations.
"We have achieved revenue growth and net income for the fifth consecutive quarter, thanks in large part to the accelerated adoption of our Ryzen, Epyc and datacenter graphics products," said executive director Lisa Su in a press release.
She added: "Sales of both client and server processors have increased significantly, although sales of graphics channels have declined in the quarter, and for the future we believe we are well positioned to continue to win market share, as we make significant progress toward our long-term financial goals. "
The company's gross profit margin reached 40%, up from 36% a year earlier. It had an adjusted gross profit margin of 41% in the fourth quarter.
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