AMD is getting smoked after revenue misses, guidance falls short (AMD) – Finance

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  • AMD reportedly third quarter earnings after closing on Wednesday, which exceeded profits, but missed sales.
  • The company also managed fourth-quarter earnings below Wall Street expectations.
  • Shares decreased by 9% during the session on Wednesday amid wider weakness in the technology sector and after the results were 16% lower.
  • Follow AMD stock price in real time here.

AMD reportedly third quarter earnings on Wednesday, who beat on profits, but missed sales, sending shares at 16%.

Here are the key numbers:

  • Adjusted earnings per share: $ 0.13 vs. expected $ 0.12.
  • Income: $ 1.65 against an expected $ 1.7 billion.
  • Fourth quarter revenue forecast: $ 1.45 billion (+/- $ 50 million) against the expected $ 1.6 billion.

“We released the fifth quarter of the quarter on an annualized basis and net income growth, mainly due to the accelerated introduction of our graphical products“ Ryzen ”,“ EPYC ”and“ Datacenter ”, CEO Lisa Soo says the income statement.

“Sales of client and server processors increased significantly, although sales in this sector were lower than in the fourth quarter. We hope that we will be positive for further growth in market share, as we continue to make significant progress toward our long-term financial goals. ”

On the eve of the results, stocks on Wednesday fell by 9% amid wider weakness in the technology sector. They were under pressure this month – more than 25% of their recent maximum, set on September 14, after a rival Intel reportedly solved his problems with the production of 10 nm chipsand as brutal sell-off in the stock market has ravaged the technology sector

While AMD stocks have been under pressure lately, one analyst says The big year will come in 2019 thanks to the release of 7 nm chips.

“We will add positions to weakness and look forward to 2019,” Mitch Stivas, an analyst at RBC, wrote in a note sent to customers on Tuesday.

“We believe that the history of AMD is the history of 2019/2020, in which the company can get a significant share on the servers and, possibly, on the middle-class PC. Finally, we emphasize that it continues to play in 2019, given the release time of the 7nm product launch. "

This year, AMD shares rose 110%.

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