Chipmaker Advanced Micro Devices (AMD) precocious Tuesday bushed Wall Street's targets for the 3rd 4th and pointed higher for the existent period. But AMD banal wavered successful extended trading.
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The Santa Clara, Calif.-based institution earned an adjusted 73 cents a stock connected income of $4.31 cardinal successful the September quarter. Analysts had expected AMD net of 66 cents a stock connected income of $4.11 billion, according to FactSet. On a year-over-year basis, AMD net jumped 78% portion income climbed 54%.
For the existent quarter, AMD expects to make income of $4.5 cardinal vs. Wall Street's estimation of $4.25 billion. That would construe to year-over-year income maturation of 39%.
AMD's data-center processor income much than doubled twelvemonth implicit twelvemonth successful the 3rd quarter, Chief Executive Lisa Su said successful a news release. Shipments of AMD's third-generation Epyc server chips "ramped importantly successful the quarter," she said.
AMD Outpacing Market
"Our concern importantly accelerated successful 2021, increasing faster than the marketplace based connected our enactment products and accordant execution," Su said.
In after-hours trading connected the stock marketplace today, AMD banal alternated betwixt humble gains and losses. During the regular league Tuesday, AMD banal tacked connected 0.5% to adjacent astatine 122.93.
In intraday trading, AMD banal deed a grounds precocious of 127.20.
AMD Stock On Multiple IBD Watchlists
On Oct. 18, AMD banal broke retired of a double-bottom base astatine a buy point of 114.59, according to IBD MarketSmith charts. Advanced Micro Devices was the IBD Stock Of The Day connected Oct. 13.
AMD banal is connected the Leaderboard and IBD 50 banal lists. It's besides connected the Big Cap 20, IBD Sector Leaders and Stock Spotlight watchlists.
TI Gives Mixed Third-Quarter Report
Elsewhere successful the semiconductor sector, chipmaker Texas Instruments (TXN) delivered mixed third-quarter results precocious Tuesday.
Dallas-based TI earned $2.07 a stock connected income of $4.64 billion. Analysts were looking for net of $2.05 a stock connected income of $4.66 billion. On a year-over-year basis, TI net roseate 43% portion income accrued 22%.
For the 4th quarter, TI expects to gain $1.95 a stock connected income of $4.4 billion. That's based connected the midpoint of its outlook. Wall Street was modeling TI net of $1.93 connected income of $4.45 billion.
Follow Patrick Seitz connected Twitter astatine @IBD_PSeitz for much stories connected user technology, bundle and semiconductor stocks.
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