AMD reports better-than-expected results in Q2.
AMD said sales in its graphics processor and enterprise divisions rose 64 percent to $1,09 billion, helped by desktop-oriented Ryzen processors and Radeon graphics cards.
(Reuters)- AMD exceeded market expectations for profit and revenue in the second quarter, driven by growth in demand for personal computers that boosted sales of its chips and graphics processors.
The company's shares rose more than 7 percent in electronic trading. The company's stock has more than doubled in value in the last two years amid continued demand for graphics processing units (GPUs) used in computers, video game consoles, and a variety of other applications.
AMD said sales in its graphics processor and enterprise divisions rose 64 percent to $1,09 billion, helped by desktop-oriented Ryzen processors and Radeon graphics cards.
But in a quarterly comparison, there was a 3 percent drop due to lower demand for GPUs in the digital currency and blockchain market.
Net income was $116 million, or $0,11 per share, in the second quarter, compared with a loss of $42 million, or $0,04 per share, a year earlier.
On an adjusted basis, the company had a profit of $0,14 per share, compared to the average analyst expectation of a positive result equivalent to $0,13 per share.
AMD's revenue rose 53 percent in the second quarter to $1,76 billion, compared to analysts' expectations of $1,72 billion.
By Arjun Panchadar in Bangalore