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Jim Cramer Says Buy AMD After Earnings

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AMD  (AMD) - Get Advanced Micro Devices, Inc. Report reported earnings. 

TheStreet's Martin Baccardax noted that AMD said non-GAAP earnings for the three months ending in March came in at 45 cents per share, a 150% increase from the same period last year and one penny ahead of the Street consensus forecast of 44 cents per share. Group revenues, AMD said, surged 92.7% to $3.45 billion, again topping analysts' forecasts of a $3.2 billion tally while gross margins were flat at 46%, but 1 basis point up from the fourth quarter thanks in part to "a greater mix of Ryzen, Radeon and EPYC processor sales."

“Our business continued to accelerate in the first quarter driven by the best product portfolio in our history, strong execution and robust market demand,” said CEO Dr. Lisa Su. “We had outstanding year-over-year revenue growth across all of our businesses and data center revenue more than doubled."

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