AMD beat first-quarter earnings expectations after the market close this morning on strong data-centre chip sales, sending the stock up 7% shortly after the result in late trade. AMD also offered a robust outlook. The company provided a sales range for the current quarter with $7.4 billion at the midpoint versus the $7.2 billion analysts’ estimate.
- Revenue of $US7.4 bn beat analyst estimates of $US7.1bn.
- In the March quarter, revenue in AMD’s data-centre segment rose by 57% to $3.7 billion versus the prior year.
- EPS of 96c beat analyst forecasts of 94c.
This result is likely to offer some support this morning to likes of NEXTDC (NXT), Goodman Group (GMG) and the tech sector more broadly.
MM is neutral toward AMD
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