Real Money stock of the day AMD (AMD) posted earnings after the bell Tuesday night.
For the quarter, adjusted earnings per share came in at 18 cents, in line with Wall Street expectations. Revenue was $1.8 billion, just below analyst's estimates of $1.809 billion. Computing and Graphics revenue, the company's largest segment, was $1.28 billion, beating estimates of $1.127 billion and rising 36%. Enterprise Embedded and Semi-Custom revenue was $525 million, down 27% and missing estimates of $695 million.
"High expectations appear to be sparking some profit-taking," said Eric Jhonsa, ThesStreet's tech columnist. "Soft console processor demand is clearly a headwind for AMD in the near-term, ahead of next year's console launches. But its PC and server CPU businesses are both doing quite well."
For the quarter, gross margin was 43%, better than the 40% in the year-ago quarter and in line with Wall Street's estimate, reported TheStreet's Jacob Sonenshine.
Jim Cramer weighed in on why he likes AMD here. Watch the full video for more.
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