Advanced Micro Devices Inc.'s stock increased during the extended session Tuesday after the chip maker had peaked Wall Street estimates for the quarter.
AMD shares rose 5% after hours, after a 0.2% decline to close the regular $ 27.63 session. For comparison, the PHLX Semiconductor Index
SOX, + 0.76%
closed 0.8%, S & P 500 index
SPX, + 0.1[ads1]0%
closed 0.1%, and the technological heavy Nasdaq Composite Index
The company reported net income of $ 16 million in the first quarter, or 1 percent per share, compared to $ 81 million or 8 cents per share, in the previous period. Adjusted earnings were 6 cents per share. Of the 28 analysts investigated by FactSet, AMD is expected to enter an adjusted earnings of 5 cents per share on average.
Revenues fell to $ 1.27 billion from $ 1.65 billion in the quarter. Wall Street expected revenues of $ 1.26 billion from AMD, according to 28 analysts asked by FactSet.
"We delivered solid first quarter results with significant gross margin expansion such as Ryzen and EPYC processor and data center GPU revenues more than doubled during the year," said Lisa Su, AMD's president and CEO, in a statement. upcoming launches of our next generation 7nm PC, games and data center products that we expect to drive further market share and economic growth. "
The company said that annual sales were lower than last year" Mainly due to lower graphics channel sales, partially offset by increased client processor and data center GPU sales. "
Sales of computers and graphics went down to $ 831 million from $ 1.12 billion in the quarter. Analysts surveyed by FactSet expected data logging and graphics sales to decline 23% to $ 855.7 million from the quarter previous quarter
Business, built-in and semi-custom sales declined to $ 441 million from $ 532 million over the years Analysts expected $ 410.2 million.
For the second quarter, AMD expects revenues of $ 1.47 billion to $ 1.57 billion, while analysts expect revenue of $ 1.51 billion.
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