AMD Still Sees Strong Growth This Year

Advanced Micro Devices (NASDAQ: AMD) met analyst expectations with its first-quarter report on Tuesday evening, with revenue of $1.79 billion and adjusted earnings per share of $0.18. Revenue was up 40% year over year, although it slumped 16% from the previous quarter.

Unlike many companies, AMD provided guidance for both the second quarter and the full year. AMD expects second-quarter revenue to rise 21% year over year, driven by PC and server chip sales. For the full year, the company sees revenue up between 20% and 30%. However, AMD also said that it expects some uncertainty in the near-term demand environment due to the novel coronavirus pandemic.

Image source: AMD.

Source Fool.com