From MarketWatch, April 30:
Chip company gives a revenue forecast that’s in line with the consensus view at the midpoint
Advanced Micro Devices Inc. late Tuesday reported quarterly earnings that met Wall Street’s expectations, but it wasn’t enough to boost the stock as the company also merely matched the consensus view with the midpoint of its outlook.
“This is an incredibly exciting time for the industry, as widespread deployment of [artificial intelligence] is driving demand for significantly more compute across a broad range of markets,” Chief Executive Lisa Su said. “We are executing very well as we ramp our data-center business and enable AI capabilities across our product portfolio.”
The company said it expects second-quarter revenue of $5.7 billion, plus or minus $300 million, which is in line with analysts’ forecasts of $5.73 billion.
That would represent year-over-year growth of about 6% at its midpoint, the company said. Non-GAAP gross margin for the quarter is expected to be around 53%.
AMD shares AMD dropped more than 3% in after-hours trading Tuesday....
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Chip sales for the data center market were up 80%.
