Improved Micro Devices (AMD) closed out 14 percent higher on Thursday be modelled after a strong earnings report.
The Santa Clara, California-based company transcended Wall Street’s expectations in both earnings and revenue:
- Earnings per dividend: $0.14 vs. $0.13 , forecast by Thompson Reuters.
- Revenue: $1.76 billion vs. $1.72 billion, forewarning by Thompson Reuters.
The gains will build on a strong growth for AMD, which has minded its share price rise by more than 67 percent since the inception of the year.
“It’s been a good start to 2018,” Lisa Su, AMD CEO said on CNBC’s Complain on the Street. She noted the success of their Ryzen line of notebooks and the inclusive strength of the PC market. “I’m very optimistic about what we can do in the notebook corporation.”
The strong sales come ahead of what Su calls “the big season for notebooks,” grouping the back-to-school period and the holidays. “We believe that this is a multi-quarter swelling story for us.”