Advanced Micro Devices (AMD) has seen a stock jump after beating analyst forecasts with a 28% increase in revenue.
“AMD continued our momentum by building on the solid foundation we set in the second half of 2013, further transforming the company,” CEO Rory Read said in a statement.
Revenue was up 28% year-over-year to $1.4 billion. Advanced Micro Devices also noted that its operating profits were up $91 million from $16 million.
AMD said it lost $20 million, or 3 cents a share, last quarter, compared with a loss of $146 million, or 19 cents a share, a year earlier. Excluding one-time items, it earned 2 cents a share last quarter, topping estimates from analysts for flat earnings.
AMD reported a 12% decrease in computing solutions revenue amid lower client unit shipments. The division narrowed its operating loss to $3 million from $39 million the year before thanks to lower expenses.
The company’s graphics and visual solutions segment saw a 118% surge in revenue due to a surge in demand for the AMD Radeon R7 and R9 products.
AMD stock is up 67% from this time last year.