Advanced Micro Devices (AMD) results:
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Adjusted EPS: $0.48, slightly below the street’s $0.49 estimate
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Revenue: $7.69 billion, above the forecast of $7.40 billion
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$800 million in inventory and related charges were recorded due to U.S. export controls
Guidance:
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Revenue: $8.7 billion for Q3, ahead of expectations at $8.31 billion
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Gross Margin: Q3 GAAP gross margin projected at ~54%
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Revenue Outlook: Current forecast excludes any revenue from MI308 AI chip shipments to China due to ongoing regulatory uncertainty
AMD shares rose circa 2% following the release.
This article was written by Eamonn Sheridan at investinglive.com.