The stock rose 3.76% to $4.28 at 2:18 p.m.
The chipmaker reported it broke even on per-share earnings, which aligned with analysts' estimates. Revenue increased 28.4% year over year to $1.4 billion, which beat the analyst estimate of $1.34 billion from analysts surveyed by Thomson Reuters. Advanced Micro Devices also expects revenue to be flat to up 6% in the second quarter, which surpassed analysts' expectations of a 3% decline.
Separately, TheStreet Ratings team rates ADVANCED MICRO DEVICES as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADVANCED MICRO DEVICES (AMD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
Highlights from the analysis by TheStreet Ratings Team goes as follows: