Advanced Micro Devices (AMD) reported quarterly earnings on Wednesday, with revenue reaching $11.5 billion and adjusted earnings per share of $1.66. This marks a 50% year-over-year revenue increase and a 246% rise in EPS, both of which exceed consensus estimates. AMD’s Data Center sales surged to $6.7 billion, growing 107% year-over-year and constituting nearly 60% of total sales.
SpaceX (SPCX), after its recent IPO, posted revenue of $7.8 billion, a 92% increase from the previous year, alongside a net loss of $541 million. This is an improvement from a $1.0 billion loss during the same quarter last year. The company reported that its AI segment revenue grew by 250% to $2.56 billion, but total CapEx surged to $15.8 billion from $749 million.
Both companies experienced stock pressure following their earnings releases, attributed to investor skepticism over valuations and high capital expenditures. AMD’s strong Data Center growth suggests a positive outlook, while SpaceX faces scrutiny regarding its cash burn and upcoming share lock-up expiration on August 6th.
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