AMD Is On the Rise Despite Missing Earnings. Why?
Advanced Micro Devices (NASDAQ: AMD) stock missed analyst estimates on revenue and earnings. Declines in the PC market have hit AMD hard as the stock suffers through a bear market.
But despite that bad news, the semiconductor stock is on the rise following the report. Is that a reason to buy? Let's take a closer look.
On the surface, AMD's results appear robust. Revenue for the third quarter of 2022 came in at $5.6 billion, climbing by 29% year over year. Non-GAAP net income of $1.1 billion rose 23%. A higher cost of goods sold reduced margins. AMD also spent heavily on both research and development and marketing, general, and administrative expenses.
Source Fool.com
