What's Going On With AMD Shares
Portfolio Pulse from Henry Khederian
Advanced Micro Devices, Inc. (AMD) shares are trading higher by 2.1% to $115.53, rebounding after recent weakness due to the company's third-quarter guidance being below estimates. AMD reported Q2 non-GAAP earnings per share of 58 cents, beating the consensus estimate of 52 cents. However, this was down 44.76% YoY and 3.33% lower than Q1. The company's revenue fell 17.56% YoY but rose 0.94% sequentially to $5.36 billion.
August 04, 2023 | 3:42 pm
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AMD's shares are rebounding after a recent dip due to lower than expected Q3 guidance. Despite beating Q2 earnings estimates, the figures were down YoY and QoQ. Revenue also fell YoY but rose sequentially.
AMD's shares are rebounding, indicating investor confidence despite lower than expected Q3 guidance. However, the YoY and QoQ decrease in earnings and YoY decrease in revenue may cause some concern. The sequential increase in revenue is a positive sign.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100