AMD (AMD) Reports 15% Stock Surge on Strong Earnings Guidance

AI Summary

Advanced Micro Devices Inc. (AMD) posted Q1 results with earnings per share of $1.37, exceeding the $1.29 estimate, and revenue of $10.25 billion, surpassing expectations of $9.89 billion. The company reported a 38% revenue increase from $7.44 billion a year ago, driven by a 57% rise in data center sales to $5.8 billion. For Q2, AMD anticipates revenue of approximately $11.2 billion, exceeding the $10.52 billion forecast. CEO Lisa Su emphasized data center growth as a primary driver for revenue and earnings, contributing to a stock increase of 15% after hours.