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Despite 18% Revenue Growth, AMD Sinking After First-Quarter Sales Miss

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Despite 18% Revenue Growth, AMD Sinking After First-Quarter Sales Miss
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Although one of the hottest stocks over the past year, Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are sinking after the company released first-quarter results Monday after the close. Shares of AMD are still up 283 percent in the last year.

Print Rundown

  • AMD Q1 Adj. EPS $(0.04), in line with analyst estimates.
  • Sales came in at $984 million, missing estimates by $400,000.
  • AMD sees Q2 quarter-over-quarter sales growth of 14–20 percent.

"We achieved 18 percent year-over-year revenue growth driven by strong demand for our high performance Ryzen CPUs as well as graphics processors," said Lisa Su, AMD president and CEO. "We are positioned for solid revenue growth and margin expansion opportunities across the business in the year ahead as we bring innovation, performance, and choice to an expanding set of markets."

At last check, shares were down over 6 percent after hours.

Related Links:

Advanced Micro Devices Traders Mind The 'Goldman Gap'

Nvidia-Google Blog Beef: Here's What You Need To Know
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Image Credit: By Rico Shen, CC BY-SA 3.0, via Wikimedia Commons

Posted-In: Lisa Su RyzenEarnings News Guidance Movers Tech Best of Benzinga

 

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