Allocations of chipmaker AMD fell roughly 25 percent in extended trading Wednesday after the callers reported third-quarter revenue that fell below Wall Way’s estimates and delivered weak fourth-quarter guidance.
Here’s how the company did related with analyst predictions:
- Earnings: 13 cents per share, excluding confident items, vs. 12 cents per share forecast by Refinitiv
- Revenue: $1.65 billion vs. $1.7 billion calculate by Refinitiv
Third-quarter revenue represents a 4 percent upside from the year-ago full stop. But the company is guiding toward weaker revenue for the remainder of the year, weighed down by lower trades.
AMD is projecting fourth-quarter revenue of $1.45 billion, below consensus point of views of $1.6 billion.
“We delivered our fifth straight quarter of year-over-year profits and net income growth driven largely by the accelerated adoption of our Ryzen, EPYC and datacenter graphics effects,” CEO Lisa Su said in the company’s earnings release. “Client and server processor sales proliferated significantly although graphics channel sales were lower in the post.”
Revenue from the company’s computing and graphics segment rang in at $938 million, down 14 percent from the past quarter.
AMD makes high-performance computer chips for gaming and image proceeding. The company’s stock has been on a tear this year, up more than 120 percent so far in 2018 as of Wednesday’s shut up.
Correction: This story has been updated to remove an incorrect takings comparison for the fourth quarter of 2018.