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By Yasin Ebrahim
Investing.com – AMD raised full-year steerage after reporting Tuesday third quarter that beat analysts’ forecasts, as its information middle enterprise greater than doubled gross sales amid robust chip demand.
AMD shares gained 0.55% in after-hours commerce following the report.
AMD introduced earnings per share of 73 cents on income of $4.31 billion. Analysts polled by Investing.com anticipated EPS of 66 cents on income of $4.11 billion.
“Third Gen EPYC processor shipments ramped considerably within the quarter as our information middle gross sales greater than doubled year-over-year,” the corporate stated.
For the fourth quarter 2021, AMD expects income to be roughly $4.5 billion, plus or minus $100 million, a rise of roughly 39% year-over-year and roughly 4% quarter-over-quarter. Consensus estimates for This autumn income was $4.25 billion.
“The quarter-over-quarter enhance is anticipated to be pushed by greater server and semi-custom income,” it added.
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