AMD's Earnings Exceed Greatest of Expectations
The PC chip maker obliterates earnings estimates by $0.42 per share.
Even the most bullish analysts on Wall Street did not expect such an exceptional quarter from Advanced Micro Devices (AMD).
After a string of several lackluster quarters, AMD placed itself back on the map. The PC chip maker earned $0.43 per share in the fourth quarter--remarkably better than the $0.01 consensus estimate. Top-line growth was very impressive, clocking in at 46% from last quarter and 23% over the same quarter last year. Moreover, because of the stellar sales, gross margins also improved dramatically to 40%, up from 28% last quarter.
Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.