By Yasin Ebrahim
Investing.com – AMD raised full-year guidance after reporting Tuesday third quarter that beat analysts’ forecasts, as its data center business more than doubled sales amid strong chip demand.
AMD shares gained 0.55% in after-hours trade following the report.
AMD announced earnings per share of 73 cents on revenue of $4.31 billion. Analysts polled by Investing.com anticipated EPS of 66 cents on revenue of $4.11 billion.
“Third Gen EPYC processor shipments ramped significantly in the quarter as our data center sales more than doubled year-over-year,” the company said.
For the fourth quarter 2021, AMD expects revenue to be approximately $4.5 billion, plus or minus $100 million, an increase of approximately 39% year-over-year and approximately 4% quarter-over-quarter. Consensus estimates for Q4 revenue was $4.25 billion.
“The quarter-over-quarter increase is expected to be driven by higher server and semi-custom revenue,” it added.
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