Real-Time AMD Stock Information
Breaking News: AMD Stock Soars After Earnings Beat
Advanced Micro Devices Inc. (AMD) stock surged in after-hours trading on Tuesday after the company reported better-than-expected earnings results for the fourth quarter of 2023. The chipmaker's revenue and earnings per share both beat analysts' estimates, driven by strong demand for its data center and gaming products.
Key Highlights:
- Revenue: $5.6 billion, up 16% year-over-year (YoY)
- Earnings per share (EPS): $0.69, up 14% YoY
- Data center revenue: $2.5 billion, up 42% YoY
- Gaming revenue: $2.3 billion, up 10% YoY
AMD's CEO Lisa Su attributed the company's strong performance to its "execution and focus on innovation." She highlighted the growing demand for AMD's products in cloud computing, gaming, and other high-growth markets.
Analysts are optimistic about AMD's future prospects, citing its strong product portfolio and market share gains. The company's stock price has risen by over 20% in the past year.
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