Advanced Micro Devices Inc (AMD) revenues for the first quarter of the year exceeded analysts’ estimates, while the company’s estimates for the next period proved to be better than forecast.
In particular, AMD’s revenue for the first quarter was $ 5.89 billion, exceeding analysts’ average estimates of $ 5.52 billion based on data from Refinitiv IBES, according to Reuters.
This is the first time the microprocessor company has surpassed $ 5 billion in a quarter.
AMD also reported earnings for the first quarter of $ 786 million, or 56 cents a share, from $ 555 million, or 45 cents a share, a year earlier. Adjusted earnings stood at $ 1.13 per share compared to 52 cents per share in the same period last year. Analysts in a FactSet poll put earnings at 91 cents per share.
Finally, AMD announced that for the second quarter of the year it expects revenues to reach $ 6.5 billion plus or minus $ 200 million with analysts estimating it at $ 6.38 billion.
Source: Capital
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