Advanced Micro: 2Q Earnings Snapshot
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.