SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter earnings of $482 million.
The Santa Clara, California-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.09 per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The chipmaker posted revenue of $7.66 billion in the period, also surpassing Street forecasts. Thirteen analysts surveyed by Zacks expected $7.52 billion.
For the year, the company reported profit of $1.64 billion, or $1 per share. Revenue was reported as $25.79 billion.
For the current quarter ending in March, Advanced Micro said it expects revenue in the range of $6.8 billion to $7.4 billion.
Advanced Micro shares have dropped 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $119.50, a fall of 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD
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