AMD reported earnings of 2 cents a share for the second quarter, missing analysts' estimate of 3 cents a share by 1 cent. Revenue grew 24.1% year-over-year to $1.44 billion, in line with estimates of analysts surveyed by Thomson Reuters.
The chipmaker expects sequential revenue growth of 2% for the third quarter "plus or minus 3%."
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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, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and generally higher debt management risk."