AMD share price up 1% after Q1 results revenue beat
The chipmaker's stock rises after a positive Q1 report.
American Micro Device(AMD) share price is up 1% after beating earnings and revenue estimates. AMD’s Q1 earnings surpassed Wall Street expectations.
AMD earnings:key figures
|Earnings per share||$0.06|
|Computing and Graphics||$831 million|
AMD share price up 1% on Q1 earnings revenue beat
AMD’s Q1 earnings were $0.06, slightly above the financial analysts’ predictions of $0.05. AMD’S Q1 revenue of $1.27 billion, barely beating the projected $1.27 billion. Chief executive officer(CEO), Lisa Su, said that the semiconductor company had robust results in an email.
‘We delivered solid first quarter results with significant gross margin expansion as Ryzen and Epyc processor and datacenter GPU revenue more than doubled year-over-year,’ said Su.
The only downturn in AMD’s Q1 revenue, the corporation’s computing and graphics segment profits dropped to $831 million. The 31% decline is attributed to smaller graphics channel sales.
How did AMD’s Q1 profits compare to other chipmaker companies?
Compared to Intel, AMD’s Q1 earnings were also positive. Intel’s Q1 results also beat Wall Street expectations.
What’s next for AMD’s Q2 earnings?
AMD’s Q2 guidance predicts revenue to be between $1.48 billion- $1.57 billion. That range falls in line with financial analysts’ expectations of $1.52 billion. Su also spoke about upcoming products for the company’s 50th anniversary.
‘We look forward to the upcoming launches of our next-generation 7-nanometer PC, gaming and data center products which we expect to drive further market share gains and financial growth,’ said Su.
AMD’s Q1 profits rise shows rebound of chipmakers
AMD’s Q1 revenue shows that PC chipmakers have recovered from sluggish sales with new products like Ryzen processors that customers want.
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