AMD Reports Strong Q1 Earnings
Advanced Micro Devices (NASDAQ: AMD) shares rose 16.6% on Wednesday morning following the company’s Q1 earnings report, revealing $10.3 billion in sales and earnings of $1.37 per share, surpassing analyst expectations of $9.9 billion in sales and $1.27 per share. The company’s sales grew 38% year-over-year, and gross profit margin increased to 53%.
CEO Dr. Lisa Su highlighted strong demand for AMD’s AI chips, indicating the company is poised to capture more market share in a growing AI sector. AMD’s guidance for Q2 anticipates sales growth of 9% sequentially, projecting revenues of $11.2 billion, representing a 46% year-over-year increase.
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