Chipmaker AMD beats estimates for third-quarter revenue

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Chipmaker AMD beats estimates for third-quarter revenue

Reuters10-30

Oct 29 (Reuters) - Advanced Micro Devices beat analyst estimates for third-quarter revenue on Tuesday, betting on strong demand for its high-priced AI data center chips as businesses rush to adopt generative artificial intelligence technology.

The company reported revenue of $6.82 billion for the third quarter, compared with analysts' average estimate of $6.71 billion, according to data compiled by LSEG.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Anil D'Silva)

((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))

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