AMD surges 12% after trouncing quarterly estimates and snagging market share from rivals

published 29.07.2020 17:12

Image of article 'AMD surges 12% after trouncing quarterly estimates and snagging market share from rivals'

AMD also met its goal of double-digit server processor market share after its data center chips made up more than 20% of second-quarter revenue.

The company's server and mobile processor businesses rallied through the quarter, leading its Ryzen and EPYC processor sales to more than double from the year-ago period.

Here are the key numbers: Revenue: $1.93 billion, versus the $1.86 billion estimate Earnings: 16 cents per share, versus the 18 cents estimate Third-quarter revenue guidance: $2.55 billion, versus the $2.3 billion estimate Read more: 3 Wall Street pros managing $12 billion in assets share their strategies for profiting from the economy's recovery — and explain why investors should be aggressively taking risks now "I am very proud of the progress we have made over the last few years, placing AMD on a long-term growth trajectory," Su said in a call with analysts, according to a Sentieo transcript.

Notebook and server processor sales drove a second-quarter windfall of $157 million, CEO Lisa Su said in Tuesday's report.

AMD stock leaped as much as 17% on the news as investors mulled whether Intel's market share could be under threat.

by Ben Winck from businessinsider.com

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