AMD forecasts quarterly revenue above estimates as data-center growth accelerates
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓AMD expects fourth-quarter revenue of about $17 billion, beating analyst estimates as data-center growth accelerates.
- ✓The company’s revenue rose 45% in the third quarter, driven by strong demand for AI chips.
- ✓Chief analyst Bob O'Donnell said, "The AMD numbers provide a greatly needed boost both for AI infrastructure."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Shares of the company jumped over 8% in extended trading. The stock has more than doubled so far this year. Intel shares rose 2%, Nvidia stock climbed over 1% and Broadcom also advanced 1.2%.
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AMD, which nearly doubled its data-center revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors.
"The AMD numbers provide a greatly needed boost both for AI infrastructure and even, to a smaller degree, the PC market," chief analyst at TECHnalysis Research Bob O'Donnell said.
AMD expects fourth-quarter revenue of about $17 billion, plus or minus 3%, above analysts' average estimate of $16.23 billion, according to data compiled by LSEG.
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Reuters
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