AMD Reports Quarterly Financial Results
Advanced Micro Devices Inc has reported its quarterly financial results, with earnings per share at $0.18, slightly below the expected $0.20. Revenue for the quarter was $6.57 billion, exceeding the forecasted $6.35 billion.
The company’s stock price has declined by approximately 6% in after-hours trading. Despite this decline, AMD has achieved a 32% increase in revenue compared to the same quarter last year. This growth is attributed to strong performance in the data center and gaming segments.
Key highlights from the quarterly results include:
- Revenue: $6.57 billion (up 32% from the same quarter last year)
- Earnings per share: $0.18 (below the expected $0.20)
- Inventory write-down: $800 million
- Profit: increased from last year’s results
The company’s stock price has been volatile in recent months, with a notable 24% rally in July. The current decline is a result of the mixed quarterly financial results.