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AMD stock jumps 7% on earnings as data center revenue nearly doubles
Adjusted profit and revenue topped estimates as data center sales jumped 97%, and AMD said fourth-quarter revenue will also exceed Wall Street forecasts.
- On Tuesday, Advanced Micro Devices reported third-quarter results with revenue jumping 45% to $13.38 billion, as data center sales nearly doubled from a year earlier. The stock jumped 7% in extended trading.
- Intel's warning of a shrinking PC market contrasted sharply with AMD's strategic pivot toward artificial intelligence infrastructure. This shift positions AMD as a primary competitor to Nvidia in the expanding data center market.
- Adjusted profit reached $2.09 per share, exceeding the $1.95 consensus estimate, while data center revenue surged 97% to a record $8.55 billion. Results beat the $8.20 billion analyst projection for the segment.
- AMD forecast fourth-quarter revenue of about $17 billion, exceeding the $16.2 billion average analyst estimate. This guidance suggests sustained demand for AI chips despite sector volatility tied to overspending concerns.
- Helios rack-scale systems and a $60 billion Meta agreement position the company for sustained growth. Management expects data center revenue to more than double year-over-year in 2027, driven by artificial intelligence demand.
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The chip manufacturer convinces investors with a 45 percent jump in sales. According to head Lisa Su, the trend is not coming to an end.
·Düsseldorf, Germany
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AMD forecasts quarterly revenue above estimates as data-center growth ...
·London, United Kingdom
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AMD's stock finishes the day higher ahead of its earnings report
Shares of AMD rose 3.6% on Tuesday ahead of its third quarter earnings report that's expected to be released at 4:15 p.m. Eastern time. The chip maker's earnings call is expected to follow at 5 p.m. Eastern time. AMD's chip-making peers also finished Tuesday in the green, with Nvidia's stock up 2.
·New York, United States
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AMD Sales Forecast Tops Estimates on Soaring AI Chip Demand
Advanced Micro Devices Inc., a key challenger to Nvidia Corp. in artificial intelligence chips, gave a revenue forecast that exceeded analysts’ estimates, indicating that demand for data center processors remains strong.
·New York, United States
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Total News Sources37
Leaning Left2Leaning Right2Center12Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
13%
C 75%
12%
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