Advanced Micro Devices, Inc. (NASDAQ:AMD) just released its third-quarter 2017 financial results, posting earnings of $0.10 per share and revenues of $1.64 billion. Currently, AMD is a Zacks Rank #3 (Hold) and is down over 6% to $13.31 per share in after-hours trading shortly after its earnings report was released.
AMD:
Beat earnings estimates. The company posted earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share.
Beat revenue estimates. The company saw revenue figures of $1.64 billion, topping our consensus estimate of $1.51 billion.
The Sunnyvale, Calif. chipmaker’s quarterly revenues were up over 25% from the year-ago period. AMD’s non-GAAP earnings jumped from $0.03 per share to $0.10 per share, while it posted operating income of $126 million and net income of $71 million.
AMD’s Computing and Graphics segment revenues soared 74% to $819 million, driven in large part by great Radeon and Ryzen sales.
However, the company expects its fourth-quarter revenues will fall roughly 15% sequentially, tough that quarter-over-quarter decline would mark a nearly 26% year-over-year jump. On top of that, full-year sales are expected to increase by more than 20%, which is above AMD’s previous mid-to-high teens guidance.
“Strong customer adoption of our new high-performance products drove significant revenue growth and improved financial results from a year ago,” Dr. Lisa Su, AMD president and CEO said in a statement.
“Our third quarter new product introductions and financial execution mark another important milestone as we establish AMD as a premier growth company in the technology industry.”
Here’s a graph that looks at AMD’s Price, Consensus and EPS Surprise history:
Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise
Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise | Advanced Micro Devices, Inc. Quote
Check back later for our full analysis on AMD’s earnings report!
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Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report
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