- Advanced Micro Devices (NASDAQ:AMD) shares are down 10.39% aftermarket following Q3 EPS and revenue beats. The company expects Q4 revenue to fall between 12% and 18% sequentially, but the midpoint would represent a 26% growth on the year or about $1.4B (consensus: $1.34B).
- AMD raises its full-year revenue growth guidance from the prior forecast of mid-to-high teens to over 20%.
- Computing and Graphics revenue was up 74% to $819M primarily due to strong Radeon and Ryzen sales. Client and GPU ASPs “increased significantly” on the year. Segment operating income was $70M compared to last year’s $66M loss.
- Enterprise, Embedded and Semi-Custom segment revenue was $824M, flat on the year as lower SoC sales were offset by IP and EPYC processor sales. Operating income was $84M, down from $136M last year primarily due to higher costs.
- Financials: Non-GAAP gross margin was up 4% on the year to 35% with Q4 expected flat on the quarter. AMD ended the quarter with $879M in cash and equivalents and $1.43B in total debt.
- Press release
- Now read: AMD: The Vega Charm Offensive
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AMD reports Q3 beats but expects Q/Q revenue drop; shares down 10.4%
Published 10/24/2017, 05:15 PM
AMD reports Q3 beats but expects Q/Q revenue drop; shares down 10.4%
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