Advanced Micro Devices

AMD Q4 Earnings Top Estimates, Shares Down on Bleak Guidance

Advanced Micro Devices AMD reported fourth-quarter 2019 non-GAAP earnings of 32 cents per share, which beat the Zacks Consensus Estimate by 6.7%. Notably, the figure soared 300% year over year and improved 77.8% sequentially.

Revenues of $2.127 billion surpassed the Zacks Consensus Estimate of $2.101 billion. Moreover, the top line improved 50% year over year and 18% sequentially.

Seasonal uptick on holiday season, and strength in both Computing and Graphics, and Enterprise, Embedded and Semi-Custom segments drove the year-over-year improvement.

Shares Down on Bleak Q1 Revenue Outlook

Following bleak first-quarter 2020 guidance, shares of AMD are down 4.5% in the pre-market.

AMD expects first-quarter 2020 revenues to be roughly $1.8 billion (+/-$50 million), indicating year-over-year growth of 42%. However, it reflects a decline of 15% on a sequential basis.

The Zacks Consensus Estimate for revenues for the first quarter is pegged at $1.84 billion.

Notably, AMD’s stock has returned 162.5% in the past year, outperforming the industry’s rally of 47.8%.


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https://finance.yahoo.com/news/amd-q4-ea...02702.html