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MarketScreener Homepage  >  Equities  >  Tokyo  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

(6758)
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AMD revenue forecast disappoints on weak console demand

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01/28/2020 | 06:00pm EST
Lisa Su, president and CEO of AMD, gives a keynote address during the 2019 CES in Las Vegas

Advanced Micro Devices Inc first-quarter revenue estimate came in largely below analysts' estimates due to waning demand from gaming console makers, even as its data center and PC chips business tracked a recovery in the chip industry.

Shares of the company fell 4% in extended trading on Tuesday. The stock has surged over 150% in the last 12 months, making it the top gainer on both the S&P 500 and the Philadelphia Semiconductor Index during the period.

The console business has been under pressure as inventory is drawn down ahead of Microsoft Corp and Sony Corp launching their new gaming consoles in the second half of this year.

Fourth-quarter sales in its enterprise, embedded and semi-custom segment, which also houses chips used in consoles, rose 7% to $465 million, but missed FactSet estimates of $603.8 million.

"The secular decline in the game console semi-custom chip (SoC) should have been expected. I think investors wanted to see a steeper growth profile from its datacenter, CPU business to offset the near-term gaming SoC decline," said KinNgai Chan at Summit Insights Group LLC.

Sales at AMD's computing and graphics segment, which includes graphic chip sales to data centers, surged 69% to $1.66 billion in the fourth quarter, beating analysts' estimate of $1.5 billion, according to market research firm FactSet.

Data center demand also powered strong results and forecast from bigger rival Intel Corp last week, which reinforced chip industry turnaround expectations triggered by Micron Inc and Texas Instruments.

AMD projected first-quarter revenue to be about $1.8 billion plus or minus $50 million, compared to analysts' average estimate of $1.86 billion, according to IBES data from Refinitiv.

Revenue jumped 50% to $2.13 billion in the fourth quarter, beating analysts' estimates of $2.11 billion.

The company said it expects 2020 revenue growth of about 28% to 30% year-over-year, while analysts were expecting 27%.

Excluding items, the company earned 32 cents per share, beating estimates of 31 cents.

(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. 1.43% 55.31 Delayed Quote.20.61%
DJ INDUSTRIAL -0.09% 29398.08 Delayed Quote.3.01%
INTEL CORPORATION -0.25% 67.27 Delayed Quote.12.40%
MICRON TECHNOLOGY -1.40% 58.5 Delayed Quote.8.78%
MICROSOFT CORPORATION 0.89% 185.35 Delayed Quote.17.53%
NASDAQ 100 0.29% 9623.580482 Delayed Quote.9.88%
NASDAQ COMP. 0.20% 9731.17573 Delayed Quote.8.40%
S&P 500 0.18% 3380.16 Delayed Quote.4.62%
SONY CORPORATION -0.63% 7622 End-of-day quote.3.97%
TEXAS INSTRUMENTS -0.45% 132.21 Delayed Quote.3.06%
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Financials (JPY)
Sales 2020 8 556 B
EBIT 2020 892 B
Net income 2020 596 B
Finance 2020 2 178 B
Yield 2020 0,57%
P/E ratio 2020 15,9x
P/E ratio 2021 15,1x
EV / Sales2020 0,84x
EV / Sales2021 0,80x
Capitalization 9 343 B
Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 8 881,90  JPY
Last Close Price 7 622,00  JPY
Spread / Highest target 31,2%
Spread / Average Target 16,5%
Spread / Lowest Target -5,54%
EPS Revisions
Managers
NameTitle
Kenichiro Yoshida President, Chief Executive Officer & Director
Shuzo Sumi Chairman
Hiroki Totoki Chief Financial Officer & Director
Toru Katsumoto Senior Managing Executive Officer, Head-R&D
Makoto Toyoda Chief Information Officer & Executive Officer
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