Advanced Micro Devices (AMD) posted its latest quarterly revenue that slightly fell short of estimates, while its earnings matched expectations.
The semiconductor company’s adjusted earnings for the quarter came in at 18 cents a share, in line with the Street expectations.
Revenue of $1.8 billion was slightly below analyst's estimates of $1.809 billion.
However, revenue from the company's largest segment Computing and Graphics was $1.28 billion, higher than estimates of $1.127 billion. It reflects a + 36% growth from the year-ago quarter.
Enterprise Embedded and Semi-Custom revenue fell -27% year-over-year to $525 million, missing estimates of $695 million.
AMD’s gross margin came in at 43%, higher than the 40% in the year-ago quarter. The figure matched analysts’ expectations.
For the fourth quarter, the company has projected revenue of $2.1 billion (plus or minus $50 million), which is lower than analysts’ forecast of $2.149 billion. Increase in Ryzen, EPYC and Radeon product sales are expected be the main drivers of sequential and year-over-year, as indicated by AMD.