AMD (AMD) reported its third quarter earnings Tuesday after the bell, but not all the chips fell its way.
While it beat estimates on the top and bottom line, the company missed on its Q4 guidance. AMD’s shares fell about 4% in after-hours trading before gaining back the loss.
In Q3, AMD reeled in $5.8 billion in revenue and $0.70 in EPS, but forecasted $6.1 billion in revenue for the next quarter, missing analysts’ expectations of $6.4 billion.
Amid the AI boom, AMD is playing catch-up with Nvidia (NVDA), which currently rules the roost when it comes to AI chips. But the underdog has been making headway — AMD CEO Lisa Su recently made the case that the AI field is more wide open than it might appear right now.
“I’m not a believer in moats when the market is moving as fast as this,” Su told the audience at the 2023 Code Conference. “When you think about moats, … [they are in] markets where people are not really wanting to change things a lot.”
Looking ahead, AMD’s newest data center…
2023-10-31 17:05:09
Article from finance.yahoo.com
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