AMD Shares Slip 5.6% After-Hours as Fourth Quarter Revenue Outlook Misses Estimates
$Advanced Micro Devices (AMD.US)$ shares tumbled more than 5% in extended trading Tuesday after the chipmaker's fourth quarter revenue outlook missed analysts' estimates.
Revenue for the fourth quarter ending in December is expected to reach about $7.5 billion, plus or minus $300 million. That midpoint is lower than the $7.55 billion expected by analysts, according to estimates by Bloomberg.
The miss in outlook overshadowed a better than expected revenue that the company reported for the third quarter. The company said revenue rose 18% to $6.82 billion, exceeding the $6.71 billion Bloomberg consensus. Adjusted earnings came in at 92 cents, matching the estimates.
Shares slipped even as CEO Lisa Su touted the "significant growth opportunities across our data center, client and embedded businesses driven by the insatiable demand for more compute.”
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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71506509 : They straight disrespected AMD. They beat and gave good Forward numbers and the stock still tanked… this is market manipulation at its finest
Zheng Hao585 71506509 : There was essentially no miss…. It is all about manipulation![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Crefuthope : Stock prices are selling future growth, not current outstanding performance. Predicting 120-130 is reasonable.
John Sim : Market manipulation
70623829 : Ah, the expectations are too high to be pushed up.
104247826 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Formless 懒人觉醒 : hopeless
Howiesan : 4 u.
74310574 : Please tabulate the fourth qtr forecast. it will help us appreciate the market reaction. It seems the market reaction is more on the 4th qtr Outlook than the 3rd qtr performance.
54088 FROM RWS : 3299