Advanced Micro Devices Inc. announced record sales. for the last quarter, with the company nevertheless appearing cautious in its forecasts for the continuation, missing analysts’ estimates.
In particular, AMD announced that its net profit for the second quarter was $447 million, or 27 cents per share, compared with $710 million, or 58 cents per share, a year earlier.
Adjusted earnings came in at $1.05 per share from 63 cents in the year-ago quarter.
Revenue hit a record $6.55 billion from $3.85 billion a year earlier.
The average analyst estimate in a FactSet poll was for earnings of $1.03 per share on revenue of $6.53 billion.
For the third quarter AMD expects revenue of $6.7 billion versus analysts’ estimate of $6.81 billion, according to Bloomberg.
AMD shares lost 4.7% in online trading after the results were announced.
Source: Capital
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