AMD Q3 Earnings Results
AMD reported third quarter earnings and topped expectations on both EPS and revenue. The company’s profits came in at 70 cents per share vs the expected 68 cents, and revenue came in at $5.8B vs the $5.7 expected. They did fall short on fourth quarter guidance, projecting $6.1B vs analyst expectations of $6.37B, which hurt them initially, but the stock recovered on the upbeat outlook for 2024. AMD is expected to sell $2B in artificial intelligence chips in 2024, which places them among the top companies in their industry and in AI. This marks another quarter of growth for AMD and sheds light on their potential. AMD has been moving sideways for months, but this may be the catalyst that finally moves the needle.