NEW YORK (TheStreet) -- Shares of Advanced Micro Devices (AMD - Get Report) are surging 6.13% to $5.54 in after-hours trading on Thursday after reporting better-than-expected earnings and revenues for the 2016 second quarter.
After the market close, the Sunnyvale, CA-based semiconductor company reported an adjusted loss of 5 cents per share, narrower than analysts' estimates of a loss of 8 cents per share.
Revenues surged 9% year-over-year to $1.03 billion and topped analysts' projections of $951.3 million.
For the current quarter, AMD expects revenues to increase 18% sequentially, plus or minus 3%.
"Based on the strength of our semi-custom products and demand for our latest Radeon RX GPUs and 7th Generation A-Series APUs, we are well positioned to drive growth and market share gains in the second half of the year," CEO Lisa Su said in a statement.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
AMD's weaknesses include its declining revenues.
You can view the full analysis from the report here: AMD
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.