Advanced Micro Devices, Inc. (AMD) Revenue Up 34% Y2Y

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Advanced Micro Devices, Inc. (NASDAQ:AMD) reported on its latest quarter after hours Tuesday.

Advanced Micro Devices, Inc. (AMD)The company posted fourth-quarter GAAP net income of $82 million, topping the loss of $3 million from the year-ago quarter, while operating income was $126 million over the previous quarter.

On a non-GAAP basis, Advanced Micro Devices earned $103 million, topping the operating income of $26 million a year ago. The figure came up to adjusted earnings of eight cents per share, topping the Wall Street consensus estimate of five cents per share.

The company also announced revenue of $1.48 billion for its fourth quarter, topping the year-ago mark by 34%. The figure also came in ahead of analysts’ projections of $1.41 billion.

Cash and cash equivalents for Advanced Micro Devices were $1.18 billion at the end of the quarter, topping the previous quarter’s cash and cash equivalents of $306 million.

Revenue for the full-year 2017 came in at $5.33 billion, gaining 25% compared to the year-ago quarter thanks to an increase in its Computing and Graphics segment. Earnings was $204 million for the fiscal year, beating the operating loss of $372 million from fiscal 2016.

Non-GAAP earnings were $179 million, or 17 cents per share, ahead of the year-ago loss of $117 million, or a loss of 14 cents per share.

For its first quarter of fiscal 2018, Advanced Micro Devices forecasts revenue of $1.55 billion at the midpoint, ahead of the Wall Street consensus estimate of $1.25 billion.

AMD stock gained 0.5% after the bell.


Article printed from InvestorPlace Media, https://investorplace.com/2018/01/advanced-micro-devices-inc-amd/.

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