Latest News by Industry
SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter profit of $667 million.
The Santa Clara, California-based company said it had net income of 41 cents per share. Earnings, adjusted for one-time gains and costs, were 77 cents per share.
The results matched Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was also for earnings of 77 cents per share.
The chipmaker posted revenue of $6.17 billion in the period, which beat Street forecasts. Fourteen analysts surveyed by Zacks expected $6.11 billion.
For the current quarter ending in March, Advanced Micro said it expects revenue in the range of $5.1 billion to $5.7 billion.
Advanced Micro shares have climbed 17% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $172.06, more than doubling in the last 12 months.
_____
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