AMD posted earnings after the bell on Tuesday.
The company reported second-quarter results that topped expectations for the period, and also issued a stronger-than-expected outlook for the rest of the year.
AMD reported earnings of 18 cents per share and a 26% year over year increase in revenue to $1.94 billion. Analysts were expecting the company to report non-GAAP earnings of 16 cents per share on revenue of $1.86 billion.
“We delivered strong second-quarter results, led by record notebook and server processor sales as Ryzen and EPYC revenue more than doubled from a year ago,” said Dr., AMD president, and CEO. “Despite some macroeconomic uncertainty, we are raising our full-year revenue outlook as we enter our next phase of growth driven by the acceleration of our business in multiple markets.”
Su said that despite some "macroeconomic uncertainty" the company expects its full-year revenue to grow 32% year-over-year, compared to prior guidance for 25% growth, plus or minus 5%. This increase was driven primarily by Ryzen and EPYC processor sales.
For the third quarter, AMD expects revenue to be between $2.45 billion and $2.65 billion, compared to analyst expectations of $2.32 billion.
In his daily market breakdown with TheStreet, Jim Cramer said the real win for AMD actually happened when Intel reported earnings. Cramer said Intel's chip delay makes AMD the "only game in town."
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