Advanced Micro Devices (AMD) results - shares popped a little

Advanced Micro Devices (AMD) results - shares popped a little

• AMD weaker-than-expected earnings, though revenue topped estimates

Advanced Micro Devices (AMD) results:

• Adjusted EPS: $0.48, slightly below the street’s $0.49 estimate

• Revenue: $7.69 billion, above the forecast of $7.40 billion

• $800 million in inventory and related charges were recorded due to U.S. export controls

Guidance:

• Revenue: $8.7 billion for Q3, ahead of expectations at $8.31 billion

• Gross Margin: Q3 GAAP gross margin projected at ~54%

• Revenue Outlook: Current forecast excludes any revenue from MI308 AI chip shipments to China due to ongoing regulatory uncertainty

AMD shares rose circa 2% following the release.