Advanced Micro Devices (NASDAQ:AMD) posted its latest quarterly earnings results after the bell on Wednesday, which topped analysts’ expectations and sent shares surging after the bell.
For its second quarter of fiscal 2018, the semiconductor manufacturer posted non-GAAP earnings of roughly 14 cents per share, which was better than the 13 cents per share in adjusted earnings that analysts were calling for.
AMD’s revenue was up 53% compared to the company’s year-ago period, reaching $1.76 billion for its second quarter. The Wall Street consensus estimate was calling for revenue of $1.72 billion for the period.
The company’s operating expenses were roughly $467 million for the period, which left it with an operating income of $186 million and a net income of $156 million. “We had an outstanding second quarter with strong revenue growth, margin expansion and our highest quarterly net income in seven years,” Lisa Su, AMD’s CEO, said in a press release.
“Most importantly, we believe our long-term technology bets position us very well for the future. We are confident that with the continued execution of our product roadmaps, we are on an excellent trajectory to drive market share gains and profitable growth.”
AMD has several new products that have bolstered its quarterly results, including a line of 12 nanometer processors called Ryzen.
AMD stock was down about 0.9% on Wednesday during regular trading hours in anticipation of the company’s quarterly earnings results, which sent shares up 6.4% after the bell.