Advanced Micro Devices, Inc. (NYSE:AMD) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.58%.
Advanced Micro Devices, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.13 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 31.36% to $1.09 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Advanced Micro Devices, Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It beat the average revenue estimate of $1.05 billion.
Quoting Management: “Our first quarter results reflect our disciplined operational execution in a difficult market environment,” said Rory Read, AMD president and CEO. “We have largely completed our restructuring and are now focused on delivering a powerful set of new products that will accelerate our business in 2013. We will continue to diversify our portfolio and attack high-growth markets like dense server, ultra low-power client, embedded and semi-custom solutions to create the foundation for sustainable financial returns.”
Key Stats (on next page)…
Revenue decreased 5.8% from $1.16 billion in the previous quarter. EPS increased to $-0.13 in the quarter versus EPS of $-0.14 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.11 to a loss $0.12. For the current year, the average estimate has moved down from a loss of $0.28 to a loss of $0.32 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)