Advanced Micro: Q1 Earnings Snapshot

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported first-quarter net income of $123 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Santa Clara, California-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, came to 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The chipmaker posted revenue of $5.47 billion in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $5.42 billion.

For the current quarter ending in June, Advanced Micro said it expects revenue in the range of $5.4 billion to $6 billion.

Advanced Micro shares have increased slightly more than 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $158.38, an increase of 77% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on AMD at

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