AMD Beats Estimates, But Warns of Slowdown in Second Quarter

Benzinga 2023-05-03

Views 77

AMD reported better-than-expected revenue and earnings for the first quarter, but the stock dropped 6% in extended trading on Tuesday after the chipmaker issued guidance for the current period that falls short of analysts' estimates. The company's client group, which includes sales from PC processors, saw a 65 percent decrease in sales from the same period last year. AMD's data center segment sales increased to $1.295 billion from $1.293 billion during the year-earlier period. Sales in its embedded segment of less powerful chips for networking soared to $1.56 billion from $595 million year over year, and its gaming segment, which includes graphics processors for PCs as well as chips for consoles, reported $1.76 billion in sales, down slightly from $1.88 billion last year. AMD's report comes amid a PC industry slump, with shipments down 30 percent in the first quarter. CEO Lisa Su believes the first quarter was the bottom for the company's client processor business.

Share This Video


Download

  
Report form