Advanced Micro Devices Inc forecast current-quarter revenue above Wall Street expectations on Tuesday, as it sees strong demand for its chips used in data centers and gaming consoles.<\/p>\n
Shares of the Santa Clara, California-based company rose nearly 2% in extended trading after the chip designer also reported second-quarter revenue and profit beat above estimates.<\/p>\n
Although, AMD has been more constrained than rivals like Intel Corp by supply chain bottlenecks, including a shortage of raw materials like substrates, it has averted damage to revenue by selling its higher-end chips used in servers, PCs and notebooks.<\/p>\n
AMD Chief Executive Officer Lisa Su said that though supply chain is tight, the company have been planning well with its partners.<\/p>\n
“We do have confidence that we can continue to grow substantially as we go into the second half of this year and into 2022 with the supply chain,” said Su.<\/p>\n
AMD projected third-quarter revenue of about $4.1 billion, plus or minus $100 million, compared with analysts’ estimates of $3.82 billion, according to Refinitiv IBES data.<\/p>\n
The company’s revenue for the second quarter almost doubled to $3.85 billion. Analysts on average had expected $3.62 billion.<\/p>\n
Sales in AMD’s computing and graphics segment, which includes graphic chip sales to data centers, rose 65% to $2.25 billion, beating analysts’ estimate of $2.17 billion, according to market research firm FactSet.<\/p>\n
Its enterprise, embedded and semi-custom segment, the unit that houses data center chips, jumped nearly three-fold in sales to $1.60 billion.<\/p>\n
“We believe that the data center business will continue to be a strong driver for us into the second half of the year,” Su told analysts on a conference call.<\/p>\n
Excluding items, the company earned 63 cents per share in the quarter, above estimates of 54 cents, according to Refinitiv IBES data.<\/p>\n","protected":false},"excerpt":{"rendered":"
Advanced Micro Devices Inc forecast current-quarter revenue above Wall Street expectations on Tuesday, as it sees strong demand for its chips used in data centers and gaming consoles. Shares of the Santa Clara, California-based company rose nearly 2% in extended trading after the chip designer also reported second-quarter revenue and profit beat above estimates. Although, AMD has been more constrained than rivals like Intel Corp by supply chain bottlenecks, including a shortage of raw materials like substrates, it has averted damage to revenue by selling its higher-end chips used in servers, PCs and notebooks. AMD Chief Executive Officer Lisa Su […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-798792","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798792"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798792\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}