Advanced Micro Devices (AMD) has attracted the attention of investors and analysts with its impressive third-quarter results. Market Movers, a trusted source for market insights, has gathered the latest reactions to AMD’s performance.
AMD reported adjusted earnings of 70 cents per share on revenue of $5.8 billion, surpassing analysts’ expectations. Prior to the announcement, experts projected earnings of 68 cents per share and revenue of $5.7 billion. This outstanding performance has caused a stir among industry professionals.
CEO Lisa Su shared valuable insights during the earnings call. She stated that the company foresees data center graphics processing units (GPUs) generating approximately $400 million in revenue during the fourth quarter. Furthermore, AMD aims to exceed $2 billion in revenue from these high-powered GPUs by 2024. Such GPUs are crucial for powering artificial intelligence models, making AMD’s projections even more exciting.
Upon the release of this news, market activity reflected the positive sentiment surrounding AMD. The company’s stock closed the trading session with a notable 9.7% increase.
Analysts and investors alike are eager to see what lies ahead for AMD. With its strong financial performance and ambitious growth targets, the chipmaker has positioned itself as a major player in the industry. As competition intensifies, AMD continues to impress, capturing the attention of market experts worldwide.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
