Shares of Advanced Micro Devices (NASDAQ: AMD) jumped 6% through 10:30 a.m. ET on Wednesday morning, after reporting a big earnings beat last night.

Heading into the third quarter, analysts had forecast the semiconductor stock would earn $0.64 per share on sales of $5.4 billion. In fact, AMD earned $0.70 per share on sales of $5.8 billion -- and guided higher as well.  

Now, not all the news was good. AMD's claimed $0.70 "profit" was actually only a non-GAAP (adjusted) number. When calculated according to generally accepted accounting principles (GAAP), earnings per share were only $0.18. What's more, AMD grew its sales by only a modest 4% year over year, with powerful 42% growth in "client segment" sales -- chips for personal computers, but no growth at all in data center chip sales (an important factoid for investors in artificial intelligence). Gaming and embedded segment sales were also both down year over year.  

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Source Fool.com