AMD stock dropped 4.1% in premarket trading Wednesday after the chip maker gave a disappointing revenue forecast for its March quarter.
The chip maker reported fourth-quarter adjusted earnings per share of 77 cents, in line with Wall Street’s consensus estimate of 77 cents, according to FactSet. Revenue came in at $6.2 billion, which was above analysts’ expectations of $6.13 billion.
But AMD said that first quarter revenue would be “approximately $5.4 billion, plus or minus $300 million.” Wall Street had estimated revenue of $5.73 billion for the quarter.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments