Advanced Micro reports EPS in-line, beats on revs; guides Q1 revs in-line
Reports Q4 (Dec) earnings of $0.06 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.06; revenues rose 37.1% year/year to $1.59 bln vs the $1.54 bln consensus.
Gross margin was 35 percent in Q4 2013. Gross margin decreased 1 percentage point sequentially. Q4 2013 gross margin included a $7 million benefit from the sale of inventory previously reserved in Q3 2012 as compared to a similar benefit of $19 million in Q3 2013.
Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter, in line with expectations.
Co issues in-line guidance for Q1, sees Q1 revs of $1.287-1.382 bln vs. $1.36 bln Capital IQ Consensus Estimate.