US semiconductor giant Advanced Micro Devices announced a quarterly report that beat earnings and revenue analysis expectations, however it warned the market of the risk of a -10% year-over-year sales decline in the current quarter.
In the fourth quarter of the year, AMD reported EPS of $0.69, on an adjusted basis, higher than the $0.67 per share consensus forecast. Revenue was $5.6 billion, above the $5.5 billion forecast.
AMD said it expects first-quarter 2023 sales of $5.3 billion, slightly below the $5.47 billion consensus expectation from Refinitiv. Target assumes a 10% decline in sales in the current quarter, year-over-year. It should be noted that, in all of 2022, AMD sales rose by 44%. The stock rose in Wall Street trading by around 1.7%.