Is AMD making a comeback? Q3 numbers beat expectations, profits made

AMD posts Q3 profits, beats Wall Street expectations.

@anthony256
Published Tue, Oct 29 2013 1:33 AM CDT   |   Updated Tue, Nov 3 2020 12:20 PM CST

If there's a company capable of making a tremendous return, stomping its foot down firmly into the ground to claim victory, it's AMD. The chipmaker has finally returned to profitability after numerous years of bad results.

Is AMD making a comeback? Q3 numbers beat expectations, profits made | TweakTown.com

AMD posted a Q3 revenue of $1.46 billion, representing a 15% year-over-year increase, and a net income of $48 million - or 4c per share. Moving onto the non-GAAP basis, AMD posted a net income of $31 million, with this figure including $22 million in restructuring charges. If AMD didn't have to take that restructuring charge, it would've enjoyed earnings of 6c per share.

The 'experts' over on Wall Street expected the company to report Q3 earnings of 2c per share on revenue of $1.41 billion. AMD CEO, Rory Read, said that the company's turnaround is part of its strategic transformation it talked about years ago: "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years. Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets."

At the time of writing, AMD's shares were down 0.6% to $3.32 a piece.

NEWS SOURCE:zdnet.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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