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AMD's Big Run Continues With Q2 Earnings Beat

AMD's Big Run Continues With Q2 Earnings Beat

Advanced Micro Devices, Inc. (NASDAQ: AMD) has been one of the hottest stocks over the past year, successfully resuscitating itself from the brink of death, delivering a nearly 600 percent gain in the past 18 months.

The chipmaker delivered second-quarter earnings of 2 cents per share, up from a loss of 5 cents in the same quarter of last year. Sales also grew to $1.22 billion, compared to $1.16 billion in Q2 2016.

AMD’s management sees third-quarter sales up 23 percent, which equates to a 3 percent gain quarter over quarter.

See Also: AMD's RX Vega Vs. Nvidia's GTX1080: The Great Rivalry Heats Up

"Our second quarter results demonstrate strong growth driven by leadership products and focused execution," said Dr. Lisa Su, AMD president and CEO. "Our Ryzen desktop processors, Vega GPUs, and EPYC datacenter products have received tremendous industry recognition. We are very pleased with our improved financial performance, including double digit revenue growth and year-over-year gross margin expansion on the strength of our new products."

Shares spiked over 7 percent after hours following the results. At time of publication, the stock was trading at $15.19.

Image Credit: By Rico Shen, CC BY-SA 3.0, via Wikimedia Commons

Posted-In: AMDEarnings News Guidance After-Hours Center Movers Best of Benzinga


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