Advanced Micro Devices presented profits lower than those estimated by Wall Street, so their shares lost value in the premarket wheel.
The Advanced Micro Devices Actions (AMD) more than 5% fell into the premarket wheel of Wall Street This Wednesday after the chips giant reported quarterly financial results that did not convince investors.
The company’s actions fall on Wall Street for mixed results
Punctually, the company registered income for US $ 7,685 million32% more than in the same period of the previous year and 3% more than in the last quarter. In addition, the figure was 4% higher than predicted by analysts.
The total came from the client and games segments, which yearnedly increased 69% to US $ 300 million; Data centers, which advanced 14% to US $ 3,200 million; and embedded technology, which retreated 4% to US $ 824 million.
On the other hand, AMD reported a Net adjusted gain of US $ 781 millionwhich implies a 31% drop from the second quarter of 2024 and a decrease of 50% from the first quarter of this year. In this way, the adjusted action per action of US $ 0.48 did not reach the expectations of Wall Street of U $ S0.49.
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AMD reported an impact of US $ 800 million after the prohibition imposed by the Trump administration that prevented him from selling his artificial intelligence chips MI308 to China, which resulted in an operational loss of US $ 155 million in the quarter.
AMD trusts its potential
Despite mixed financial results, AMD executives were optimistic.
“We achieved solid income growth in the second quarter, promoted by record sales for servers and PC processors,” he said Smooth hisPresident and Executive Director of AMD.
“We observe a solid demand in our portfolio of artificial computing and intelligence products and we are well positioned to achieve significant growth in the second half of the year, driven by the launch of our AMD Instinct MI350 series accelerators and the continuous increase in the market share of the EPYC and RYZEN processors,” he added.
In the presentation of Balances, The company also improved a solid financial guide. Now estimates income between US $ 8,400 YU $ S9,000 million, when Wall Street expected an average of US $ 8.3 billion.
Source: Ambito
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