Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

AMD Shares Down 2% on Disappointing Q3 Preliminary Results

Stock Markets Oct 06, 2022 04:44PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© REUTERS AMD Shares Down 2% on Disappointing Q3 Preliminary Results
 
AMD
+0.27%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Davit Kirakosyan

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell more than 2% after-hours following the company’s announced preliminary financial results for Q3/22.

The company expects Q3 revenue to be approximately $5.6 billion (up 29% year-over-year), compared to its guidance midpoint of $6.7 billion and the consensus estimate of $6.69 billion.

Reduced revenue estimates reflect lower-than-expected Client segment revenue, which is a result of reduced processor shipments due to a weaker-than-expected PC market and significant inventory correction actions across the PC supply chain. In line with the company’s expectations, Data Center, Gaming, and Embedded segments' revenues each increased significantly year-over-year.

Non-GAAP gross margin is expected to be approximately 50%, down from the previously expected 54%, primarily due to lower revenue, driven by lower Client processor unit shipments and average selling price.

“While our product portfolio remains very strong, macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain,” said AMD Chair and CEO Dr. Lisa Su.

AMD Shares Down 2% on Disappointing Q3 Preliminary Results
 

Related Articles

Workday shares gain 6% on Q3 beat & raised guidance
Workday shares gain 6% on Q3 beat & raised guidance By Investing.com - Nov 29, 2022

By Davit Kirakosyan Workday (NASDAQ:WDAY) shares rose around 6% after-hours following the company’s reported Q3 results, with EPS of $0.99 coming in better than the Street estimate...

Stocks dip while U.S. crude gains on China hopes
Stocks dip while U.S. crude gains on China hopes By Reuters - Nov 29, 2022 2

By Sinéad Carew and Tom Wilson NEW YORK/LONDON (Reuters) - The S&P 500 closed lower on Tuesday as investors awaited guidance on the Federal Reserve's path of interest rate hikes,...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Kris Jay
Kris Jay Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
oh-oh
Ayman Abbas
Ayman Abbas Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yas
Sofiya Litski
Sofiya Litski Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lisa su you
Kris Jay
Kris Jay Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sofiya Litski  haha.  i think the first of many ceos explaining their poor Q3 earnings and not so rosy projections.
Okot Fred Abel
Okot Fred Abel Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
my brother Kris teach me how to make money out of this
Kris Jay
Kris Jay Oct 06, 2022 4:52PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Okot Fred Abel  well i can't.  it maybe is too late to short.  but if SQQQ is down (which is a short of NASDAQ) to $52-$54 range, then it potentially is a buy assuming we hit the lows of 9/28 again.  in June SQQQ was $66, so 9/28 did not meet the lows of June.   so if one things that earnings are going to be brutal and forecasts not great then possible by end of month (or wait until Q4) that Nasdaq is down and your SQQQ is at $60-65.   buy 1000 shares and you have a $10k gain. not for the faint of heart though as SQQQ has a 3x multiplier. so a 1% move UP in Nasdaq will mean a 3% move down in SQQQ.   risk/reward ratio may be gone at this point in time. I follow the three Michaels though,  Michael Kramer, here,   Mike Wilson has a podcast from Morgan Stanley and Michael Burry
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email