AMD’s Sales Outlook Tops Estimates As 4Q Profit Jumps 63%
Advanced Micro Devices reported better-than-expected 4Q results.
Adjusted earnings per share soared 63% during the quarter to $0.52
year-on-year. The bottom-line results of the semiconductor company
also surpassed analysts’ expectations of $0.47. AMD's (AMD) 4Q
sales jumped 53% to $3.24 billion and beat the Street's estimates
of $3.02 billion. Revenues at its computing and graphics division
grew 18% year-over-year mainly driven by strong sales of Ryzen
processors. The enterprise, embedded and semi-custom segment
recorded revenue growth of 176% primarily benefiting from strong
sales of semi-custom and EPYC (extreme performance yield computing)
processors. (See AMD stock analysis on TipRanks). AMD's 1Q and 2021
revenue outlook came in higher than analysts’ expectations.