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AMD Misses Slightly on Revenue Guidance

AMD topped fourth-quarter earnings and revenue estimates but slightly soft revenue guidance has the stock down after hours.
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Advanced Micro Devices  (AMD)  shares are lower after hours after the chipmaker's fourth-quarter earnings and revenue beat estimates but revenue guidance came in a bit soft. 

Fourth-quarter earnings were 15 cents a share against 4 cents in the year-earlier quarter. The latest adjusted profit was 32 cents a share. Analysts surveyed by FactSet were expecting 31 cents.

Revenue at the Santa Clara, Calif., company was $2.13 billion, up 50% from $1.42 billion. The FactSet survey was looking for $2.11 billion.

For the first quarter, the company said its expected to generate revenue of $1.75 billion to $1.85 billion. Analysts were estimating $1.86 billion.

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The quarter is expected to be weighed down by softer semi-custom revenue streams, which are expected to ease ahead of the ramp of its next-generation products.

“Our focused execution and the investments we made in our high-performance computing road maps position us well for continued growth in 2020 and beyond,” CEO Lisa Su said in a statement.

AMD's share price has more than doubled over the past 12 months. At last check after hours the stock was off 4.7%; it closed the regular session Tuesday up 2.6% at $50.53.