Advanced Micro Devices Inc. revenues and profits exceeded analysts’ estimates. for the last quarter of 2021, while the forecasts of the technology giant for the first quarter of 2022 proved to be better than the market forecasts.
In particular, AMD reported a net profit of $ 974 million or 80 cents per share for the fourth quarter from $ 1.78 billion or $ 1.45 per share in the same period last year. On an adjusted basis, earnings rose 92 cents per share from 52 cents a share a year earlier.
Revenue was $ 4.83 billion, up from $ 3.24 billion a year earlier.
It is noted that the average estimates of analysts in a FactSet poll placed the company’s adjusted earnings at 70 cents per share with revenues of $ 4.52 billion.
At the same time, AMD announced that it expects revenue for the first quarter to be between 4.9 billion and 5.1 billion dollars compared to analysts’ estimate of 4.35 billion dollars.
The company’s stock jumps almost 10% in electronic transactions after the announcement of the results.
Source: Capital
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