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Advanced Micro: 2Q Earnings Snapshot

July 30, 2019

SANTA CLARA, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Tuesday reported second-quarter net income of $35 million.

The Santa Clara, California-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.

The results matched Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 8 cents per share.

The chipmaker posted revenue of $1.53 billion in the period, which topped Street forecasts. Eight analysts surveyed by Zacks expected $1.52 billion.

For the current quarter ending in October, Advanced Micro said it expects revenue in the range of $1.75 billion to $1.85 billion. Analysts surveyed by Zacks had expected revenue of $1.94 billion.

Advanced Micro shares have risen 83% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.87, a rise of 74% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD

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