AMD (NASDAQ:AMD) Posts Better-Than-Expected Sales In Q3 But Quarterly Guidance Underwhelms
Computer processor maker AMD (NASDAQ:AMD) reported Q3 FY2023 results beating Wall Street analysts' expectations, with revenue up 4.22% year on year to $5.8 billion. However, next quarter's revenue guidance of $6.1 billion was less impressive, coming in 4.53% below analysts' estimates. Turning to EPS, AMD made a non-GAAP profit of $0.70 per share, improving from its profit of $0.67 per share in the same quarter last year.
Is now the time to buy AMD? Find out by reading the original article on StockStory.
AMD (AMD) Q3 FY2023 Highlights:
“We delivered strong revenue and earnings growth driven by demand for our Ryzen 7000 series PC processors and record server processor sales,” said AMD Chair and CEO Dr. Lisa Su.
Founded in 1969 by a group of former Fairchild semiconductor executives led by Jerry Sanders, Advanced Micro Devices or NASDAQ:AMD (NASDAQ:AMD) is one of the leading designers of computer processors and graphics chips used in PCs and data centers.
Processors and Graphics ChipsThe biggest demand drivers for processors (CPUs) and graphics chips at the moment are secular trends related to 5G and Internet of Things, autonomous driving, and high performance computing in the data center space, specifically around AI and machine learning. Like all semiconductor companies, digital chip makers exhibit a degree of cyclicality, driven by supply and demand imbalances and exposure to PC and Smartphone product cycles.
Sales GrowthAMD's revenue growth over the last three years has been impressive, averaging 42.5% annually. But as you can see below, this quarter wasn't particularly strong, with revenue growing from $5.57 billion in the same quarter last year to $5.8 billion. Semiconductors are a cyclical industry, and long-term
Read more on investing.com
