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Advanced Micro Devices (AMD) Share Price Surges – Earnings Top Estimates

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Updated: 29 July 2020

Advanced Micro Devices (NASDAQ:AMD) reported its second-quarter financial results on Tuesday evening, showing an EPS (earnings per share) of $0.18, beating analysts estimates of around $0.16 per share.  

For the same period last year, the company’s EPS came in at $0.08, representing a 12.5% rise for the latest period. 

AMD also reported revenue of $1.93 billion, up 26% YoY and up 8% from the last quarter, which was put down to its Enterprise, Embedded and SemiCustom segment revenue, while its net income was reported at $157 million, compared to $35 million for the same quarter last year. 

Shares in Advanced Micro Devices have soared premarket as investors react to the earnings report and managements commentary on the earnings call. They closed Tuesdyats session at $67.61 per share but are now up at $74.93, a 10.83% rise. Over the last three months, the company’s shares have risen 21.80%.

Looking ahead, AMD expects its Q3 revenue to be around $2.55 billion, which would be an increase of 42%, and its 2020 full-year revenue is expected to grow by 32% compared to 2019.