AMD rose more than 3% in premarket trading.Q1 net profit exceeded expectations, and revenue rose by 93% year-on-year.
AMD Earnings, Revenue Beat in Q1
AMD reported on Tuesday first quarterearningsthat beat analysts' forecasts and revenue that topped expectations.
AMD announced earnings per share of $0.52 on revenue of $3.45B. Analysts polled by Investing.com anticipated EPS of $0.4357 on revenue of $3.18B.
AMD shares are up 10% from the beginning of the year, still down 14.11% from its 52 week high of $99.21 set on January 11. They are under-performing the Dow Jones which is up 11.04% from the start of the year.
AMD follows other major Technology sector earnings this month
AMD's report follows an earnings beat by Microsoft on Tuesday, who reported EPS of $1.95 on revenue of $41.71B, compared to forecasts EPS of $1.78 on revenue of $41.04B.
Alphabet C had beat expectations on Tuesday with first quarter EPS of $26.29 on revenue of $55.31B, compared to forecast for EPS of $15.71 on revenue of $51.36B.