Shares of chip maker AMD fell about 25 percent in expanded trading Wednesday after the company reported quarterly earnings that fell under Wall Street's estimates and delivered a weak fourth quarter.
- Earnings: 13 cents per share, excluding individual items, at 12 cents per share forecast of refinance
- Revenue: $ 1.65 billion versus $ 1.7 billion forecast of Refinitiv
Revenue for the third quarter represents a 4 percent upward from years ago. But the company manages against weaker revenue for the rest of the year, offset by lower sales.
AMD projects quarterly revenue of $ 1[ads1].45 billion, under consensus estimates of $ 1.6 billion.
"We delivered our fifth straight quarter with annual revenue and net revenue growth driven largely by the accelerated adoption of our Ryzen, EPYC and data center g raphics products," said CEO Lisa Su in the company's earnings release. "Client and server sales increased significantly, even though graphic channel sales were lower in the quarter. "
Revenue from the company's data processing and graphics segment was $ 938 million, down 14 percent from the previous quarter.
AMD makes high-priority data slides for gaming and image processing. been in a tear this year, up over 120 percent so far in 2018 from Wednesday's proximity.