Advanced Micro beats by $0.02, beats on revs; guides Q2 revs above consensus (9.71 -0.38)
- Reports Q1 (Mar) earnings of $0.11 per share, $0.02 better than the Capital IQ Consensus of $0.09; revenues rose 39.8% year/year to $1.65 bln vs the $1.57 bln Capital IQ Consensus and 23 percent quarter-over-quarter, driven primarily by higher revenue in the Computing and Graphics segment. Computing and Graphics segment revenue was $1.12 billion, up 95 percent year-over-year and 23 percent quarter-over-quarter, primarily driven by strong sales of Radeon and Ryzen products.
- Co issues upside guidance for Q2, sees Q2 revs of $1.675-1.775 bln vs. $1.58 bln Capital IQ Consensus; adj. GM 37%.