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AMD Chair and CEO Dr. Lisa Su delivers a keynote address at CES 2023 at The Venetian Las Vegas on January 04, 2023 in Las Vegas, Nevada.
David Becker | Getty Images
AMD reported first-quarter results on Tuesday that showed revenue dropping 9% on an annual basis. While earnings and sales beat Wall Street expectations, AMD’s guidance for the current quarter was light and shares dropped over 2% in extended trading.
Here’s how the company did versus Refinitiv consensus estimates for the quarter ending in December:
- EPS: $0.60 per share, adjusted, versus $0.56 per share expected
- Revenue: $5.35 billion, versus $5.3 billion adjusted
AMD said it expected about $5.3 billion in sales in the current quarter, versus expectations of $5.48 billion.
Net loss for the company was $139 million, or a loss of nine cents per share, versus net income of $786 million, or $0.56 per share, during the same quarter last year.
AMD’s client group, which includes sales from PC processors, reported $739 million in sales, versus over $2.1 billion in sales during the same period last year.
AMD’s data center segment grew a tiny bit during the year, to $1.295 billion from $1.293 billion last year.
While the results showed a lack of growth, they came during a tough time for chipmakers. AMD’s report comes as the PC industry is in a deep slump, with shipments dropping 30% in the first quarter, according to IDC.
Last week, Intel, AMD’s primary competitor in the PC and server chip markets, reported that its overall sales dropped 36%.
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