By Tae Kim
AMD reported better-than-expected earnings results Tuesday afternoon but soft data center revenue sparked a selloff in its stock during after-hours trading.
The semiconductor company reported fourth-quarter adjusted earnings per share of $1.09, compared to Wall Street's consensus estimate of $1.08, according to FactSet. Revenue came in at $7.7 billion, which was above analysts' expectations of $7.5 billion. In the December quarter, the chip maker's data-center unit generated $3.86 billion in revenue, which was below the $4.14 billion estimate.
AMD forecast sales in the current quarter to a range with $7.1 billion at the midpoint versus the $7 billion analysts' estimate.
"2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth," AMD CEO Lisa Su said in the news release. "Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing."
AMD shares fell as much as 6% following the results.
AMD is down 33% over the past 12 months, compared to the 9% gain for the iShares Semiconductor ETF.
Write to Tae Kim at tae.kim@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 04, 2025 16:54 ET (21:54 GMT)
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