Investing.com - AMD delivered in-line earnings with a slight miss on the top line despite recording its highest quarterly top line in 14 years, driven by the launch of new products earlier this year.
For the fourth quarter, AMD expects revenue to be about $2.1 billion, give or take $50 million, in line with consensus from S&P Capital IQ of $2.15 billion.
The chipmaker reported earnings per share (EPS) of $0.18 on revenue of $1.80 billion. Analysts polled by Investing.com forecast EPS of $0.18 on revenue of $1.81 billion. That compared to EPS of $0.13 on revenue of $1.65 billion in the same period a year earlier.
Revenue at its computing and graphics segment, which makes up the bulk of growth, rose 36% to $1.28 billion.
"Our first full quarter of 7nm Ryzen, Radeon and EPYC processor sales drove our highest quarterly revenue since 2005, our highest quarterly gross margin since 2012 and a significant increase in net income year over year," said Dr. Lisa Su, AMD president and CEO.
AMD shares fell 0.6% in after-hours trading.