SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported third-quarter net income of $1.24 billion.
The Santa Clara, California-based company said it had net income of 75 cents per share. Earnings, adjusted for one-time gains and costs, were $1.20 per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The chipmaker posted revenue of $9.25 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $8.72 billion.
For the current quarter ending in December, Advanced Micro said it expects revenue in the range of $9.3 billion to $9.9 billion.
Advanced Micro shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $250.09, a rise of 78% in the last 12 months.
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, source Associated Press News
