Summary :
The Santa Clara, California-based company said it had profit of 27 cents per share. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The chipmaker posted revenue of $6.55 billion in the period, also surpassing Street forecasts.
Advanced Micro shares have decreased 31% since the beginning of the year.
SANTA CLARA, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Tuesday reported second-quarter profit of $447 million.
The Santa Clara, California-based company said it had profit of 27 cents per share. Earnings, adjusted for one-time gains and costs, were $1.05 per share.The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The chipmaker posted revenue of $6.55 billion in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $6.52 billion.
For the current quarter ending in October, Advanced Micro said it expects revenue in the range of $6.5 billion to $6.9 billion. Analysts surveyed by Zacks had expected revenue of $6.84 billion.
The company expects full-year revenue in the range of $26 billion to $26.6 billion.
Advanced Micro shares have decreased 31% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $99.29, a decrease of almost 9% in the last 12 months.This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD
