Advanced Micro Devices (NASDAQ:AMD) earnings for the tech company’s third quarter of 2019 have AMD stock up in after-hours trading on Tuesday. This is due to its non-GAAP earnings per share of 18 cents and revenue of $1.80 billion. For comparison, Wall Street was expecting per-share earnings of 18 cents on revenue of $1.81 billion.
Here’s what else is worth mentioning about the most recent Advanced Micro Devices earnings report.
- EPS for the quarter was up 38.46% YoY from 13 cents.
- Revenue comes in 9.09% higher when compared to $1.65 billion from the same time last year.
- Operating income of $186 million is a 24% increase from the $150 million reported in the third quarter of 2018.
- The Advanced Micro Devices earnings report also includes a net income of $120 million.
- This is 17.65% higher than the company’s net income of $102 million reported in the same period of the year prior.
Dr. Lisa Su, President and CEO of Advanced Micro Devices, has this to say about the Q3 AMD stock earnings.
“Our first full quarter of 7nm Ryzen, Radeon and EPYC processor sales drove our highest quarterly revenue since 2005, our highest quarterly gross margin since 2012 and a significant increase in net income year-over-year.”
Advanced Micro Devices will be holding a conference call to go over its Q3 earnings report. This call will take place at 5:30 p.m. Eastern Time. Investors can access it through the company’s website as well.
AMD stock was down slightly in after-hours trading on Thursday. The stock closed out the day down 1.96%.
As of this writing, William White did not hold a position in any of the aforementioned securities.