AMD Results Top Estimates, Boosting Shares
Advanced Micro shares climbed in extended hours Thursday after the firm posted results that topped Wall Street estimates.
The semiconductor company reported fourth-quarter earnings of 14 cents a share, excluding one-time items. AMD earned $1.52 a share during the same period a year earlier.
Sales for the most recent quarter rose to $1.65 billion, in line with last year.
The company was seen earning 11 cents a share on revenue of $1.63 billion, according to a consensus estimate from Thomson Reuters.
Shares of AMD gained more than 3 percent in extended trading Thursday. Get after-hour quotes for AMD here.
The shares closed at $8.02 in the regular New York Stock Exchange session. Volume exceeded 23 million shares before the closing bell.
Last week, AMD announced that Dirk Meyer resigned as president, CEO and director and will be succeeded on an interim basis by CFO Thomas Seifert.
The change will accelerate AMD's ability to "establish market leadership and generate superior financial returns," said a statement by Bruce Claflin, the chairman of AMD's board of directors.