Shares of Advanced Micro Device (AMD) - Get Advanced Micro Devices, Inc. Report were rising in after-hours trading Tuesday after the company beat estimates on both top and bottom lines for the first quarter of 2019.
Shares rose 5.5% to $29.15 after declining 0.51% in regular hours.
Adjusted earnings per share came in at 6 cents, beating Wall Street estimates of 5 cents. Revenue was $1.27 billion, beating analyst's expectations of $1.26 billion. The EPS result represented a year-over-year decline from its 11 cents in the first quarter a year ago. Revenue also fell from the $1.65 billion in the same period last year.
Computing and graphics revenue was $831 million, missing expectations of $856 million. Enterprise embedded and semi custom revenue was $441 million, beating estimates of $410 million.
"We delivered solid first quarter results with significant gross margin expansion as Ryzen and EPYC processor and datacenter GPU revenue more than doubled year-over-year," said Dr. Lisa Su, AMD president and CEO. "We look forward to the upcoming launches of our next-generation 7nm PC, gaming and datacenter products which we expect to drive further market share gains and financial growth."
AMD management guided for second-quarter revenue of around $1.52 billion, plus or minus $50 million. analysts polled by FactSet were looking for $1.51 billion.
The stock is up more than 45% this year.