Posted by cai vườn (136..98.176) on November 01, 2022 at 13:57:01:
Updated at 4:44 pm EST
Advanced Micro Devices (AMD) posted modestly weaker-than-expected third quarter earnings Tuesday and a softer end-year chip sales forecast amid softening PC demand.
Shares in the chipmaker moved higher, however, as investors looked to solid gains for data center and gaming sales that offset, and perhaps isolated, the weakness in its PC division.
AMD said non-GAAP earnings for the three months ending on September 24 came in at 67 cents per share, an 8% decline from the same period last year and just shy of the Street consensus forecast of 68 cents per share.
Group revenues, AMD said, rose 30% to $5.6 billion, essentially matching analysts' forecasts following the chipmaker's warning on broader market demand earlier this month. Gaming revenues were up 13.7% to $1.631 billion while data center rose 45% to $1.61 billion.
AMD, which has fallen more than 42% since early August amid a surge in short-term interest rates, a rotation out of tech stocks and new U.S restrictions in technology exports to China, cautioned on October 6 that 'significantly' weaker PC demand would trim around $1 billion from its summer revenue forecast.