Amd Earnings

Advanced Micro Devices Falls After Earnings Beat

AMD Earnings

Advanced Micro Devices Inc (AMD) stock fell in after-hours trading Tuesday after the chip company reported a narrow first-quarter earnings beat. AMD reported earnings per share of $0.69, beating the consensus estimate of $0.67, on revenue of $5.3 billion, which was in line with estimates.

AMD Outlook

The company's outlook for the second quarter was also mixed. AMD said it expects revenue to be between $6.5 billion and $6.9 billion, below the consensus estimate of $7.02 billion. However, the company said it expects gross margin to improve to 51%, above the consensus estimate of 50.5%.

AMD Competition

AMD is facing increasing competition from Intel Corp (INTC) and Nvidia Corp (NVDA). Intel recently launched its new Alder Lake processors, which are competitive with AMD's Ryzen processors. Nvidia is also a major competitor in the graphics card market.

AMD Stock Price

AMD stock fell more than 3% in after-hours trading Tuesday. The stock has been under pressure in recent months, as investors have worried about competition and the potential for a slowdown in the PC market.