Why Advanced Micro Devices Stock Popped Over 5% Higher Today
Shares of Advanced Micro Devices (NASDAQ: AMD) were up 5% this morning as of 11:25 a.m. ET, and were up as much as 11% earlier in the day. AMD reported its financial results for the final quarter of 2021, which turned out to be yet another epic year for the chip designer.
AMD's revenue reached a new quarterly record in the fourth quarter: $4.8 billion, a 49% year-over-year increase (which compounds the 53% increase in Q4 of 2020). Full-year 2021 revenue ended up being 68% higher to $16.4 billion (compounding the 45% gain for full-year 2020).
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Source Fool.com
