04/05/2022 14:46
Advanced Micro Devices (AMD) stock leap into premarket on Wall Street, following the publication of a quarterly that beat analysts’ expectations on both earnings and revenue. The stock jumped up to + 8% in afterhours trading.
The chip maker announced that it ended the first quarter of the year with an eps of $ 1.13 on an adjusted basis, well above the expected $ 0.91, up well + 117% on an annual basis.
Turnover rose 71% year-on-year to $ 5.89 billion, over an estimated $ 5.52 billion.
In the face of some analysts who believe that the boom in PC demand has ended with the end of the darkest period of the Covid pandemic, the chip giant, which supplies processors necessary for the production of many laptops and desktops, is not blaming the feared. slowdown in demand:
“Although the PC market is experiencing some weakness compared to quarters in which shipments stood at record levels, our focus remains on the premium, commercial and gaming sectors of the market, where we continue to see strong growth opportunities.” commented CEO Lisa Su, adding that the group has gained market share in PC chip delivery for eight consecutive quarters.
AMD added that it estimates second-quarter sales to be worth $ 6.5 billion, above analysts’ expected $ 6.38 billion.