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AMD stock rises on Q4 earnings beat

Yahoo Finance markets reporter Ines Ferre examines AMD's latest earnings report.

Video transcript

[AUDIO LOGO]

- All right, another earnings alert here, chipmaker AMD out with earnings. Our Ines Ferre has been cranking out, and she's got the data for us. What are you seeing?

INES FERRE: Yeah, and it looks like a beat definitely with AMD's fourth quarter revenue coming in at, well, just shy of expectations, $5.6 billion. The estimate was for $5.2 billion in revenue. It's seeing its first quarter revenue coming in between $5 and $5.6 billion. And the estimate was for $5.6 billion in revenue.

What's interesting is the commentary that was said in their earnings report, saying 2022 was a strong year for AMD. We delivered best-in-class growth and record revenue, despite the weak PC environment in the second half of the year. That's according to chair and CEO, Dr. Lisa Su, also saying, although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long term growth based on our differentiated product portfolio.

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Their adjusted earnings per share for the quarter came in at $0.69. The estimate was for $0.66. So that's a beat. But this guidance, from what they're talking about in this earnings release, this is important. It's relatively bullish because what the Street was looking for was positive guidance going forward because if AMD, which has been taking market share away from Intel, if they're guidance is great, then that would signify something bigger, a bigger problem for the industry, that we know that the chip industry has been on a downturn recently.

- Yeah, certainly, a huge downturn there, but again, that stock popping after hours, up 3.5% after hours. Ines, thanks so much.