Key Points
Shares of Advanced Micro Devices (AMD) surged 45.6% in May, following a 74% increase in April, according to S&P Global Market Intelligence. By comparison, Nvidia shares rose 8.4% in May, while the S&P 500 and Nasdaq Composite reported returns of 5.3% and 8.4%, respectively.
On May 6, AMD announced its first-quarter results, revealing a revenue of $10.3 billion, up 38% year-over-year, which beat Wall Street’s estimate of $9.89 billion. The data center segment led this growth with $5.8 billion, a 57% increase from the previous year. Earnings per share (EPS) reached $0.84, a 91% increase, surpassing expectations of $1.29.
Looking ahead, AMD forecasts second-quarter revenue of approximately $11.2 billion, reflecting a 46% year-over-year growth and exceeding Wall Street’s projection of $10.5 billion.
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