AMD beats on sales and profit but warns of a 10% revenue decline in Q1
Publishing timestamp: 2023-01-31 17:18:10
Summary
AMD reported fourth quarter earnings on Tuesday, beating Wall Street expectations for sales and profit, but guided analysts to 10% decline in year-over-year sales in current quarter. AMD's data center segment rose 42% year-over-year, suggesting it took market share from Intel. AMD CEO Lisa Su said that the company expects total PC market to be down about 10% in 2023 and said PC environment was "weak". AMD expects that segments with PC chips and graphics processors will continue to decline in current quarter, but data center and embedded sales will grow.
Sentiment: MIXED
Keywords: technology, business, lisa su, intel corp, advanced micro devices inc, breaking news: technology, business news, mobile, apple inc,
Source: https://www.cnbc.com/2023/01/31/amd-earnings-q4-2022.html