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<US Co. Results>AMD 4Q22 Profit Beats, Expects 1Q23 Revenue to Decline 10%
Recommend 9 Positive 10 Negative 3 2023/02/01 05:37
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Advanced Micro Devices, Inc. (AMD.US) announced that adjusted EPS in the fourth quarter were US$0.69, better than the expected US$0.67. During the period, revenue stood at US$5.6 billion, slightly higher than the expected US$5.5 billion, while adjusted gross profit margin was about 50%. The stock closed up 3.7% and rose more than 2% in after-hours trading after the results were announced. Sales of AMD's computer chips and graphics processors slowed down, but its data center segment grew by 42% YoY to US$1.7 billion, implying some market share it gained from rival Intel Corporation (INTC.US). AMD estimated that sales will drop by 10% in 1Q23. AAStocks Financial News |
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