5 Latest Earnings You Should Check Out

1. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) came into the limelight this morning after delivering mixed financial performance for third quarter. The semiconductor company earned 67 cents per share on an adjusted basis, down from 73 cents per share in the year-ago period.

Revenue for the quarter jumped 29 percent on a year-over-year basis to $5.6 billion, primarily driven by strength across its data center and gaming units. Analysts expected Advanced Micro Devices, Inc. (NASDAQ:AMD) to earn 69 cents per share on revenue of $5.65 billion.

For the fourth quarter, Advanced Micro Devices, Inc. (NASDAQ:AMD) projected revenue of around $5.5 billion, below analysts’ average estimate of $5.95 billion.

Speaking on the results, CEO Dr Lisa Su said in a statement:

“Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain. Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded and game console products.”

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