SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported third-quarter earnings of $299 million.
The Santa Clara, California-based company said it had profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 70 cents per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The chipmaker posted revenue of $5.8 billion in the period, also surpassing Street forecasts. Thirteen analysts surveyed by Zacks expected $5.71 billion.
For the current quarter ending in December, Advanced Micro said it expects revenue in the range of $5.8 billion to $6.4 billion. Analysts surveyed by Zacks had expected revenue of $5.93 billion.
Advanced Micro shares have climbed 52% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $98.51, an increase of 64% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD