AMD Q3 earnings: Stock falls as Q4 outlook disappoints

Published On Oct 29, 2024, 4:34 PM

AMD reported its Q3 earnings, meeting expectations for earnings per share at $0.92, while revenue exceeded expectations at $6.8 billion. However, the company's Q4 revenue outlook of $7.2 to $7.8 billion fell short of the expected $7.55 billion, leading to a drop in its stock price by over 5%. Despite strong demand perceived by CEO Lisa Su, concerns have arisen due to a 69% year-over-year decline in the gaming segment, which traditionally is a significant contributor to AMD's revenue.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

AMD View AMD chart on TradingView

Negative

AMD's Q4 revenue guidance disappointed investors, leading to a decrease in stock price. Combined with the sharp decline in the gaming segment, this raises concerns about the company's growth trajectory, especially in the AI vertical where it competes against Nvidia. Short-term outlook seems bearish as the market reacts to the softer outlook and diminished growth in gaming.

Related News

AMD to report Q3 earnings as AI takes center stage again

Oct 28, 2024, 1:14 PM

AMD will report its fiscal third quarter earnings after the bell on Tuesday, as investors look for signs of AI market strength.

AMD

Stock market today: Dow, S&P 500, Nasdaq jump as TSMC outlook prompts chip stock rally

Oct 17, 2024, 9:35 AM

A monthly report on retail sales could provide clues to whether the Fed will go for "no cut" at its next meeting.

NVDA

AMD

AVGO

US Weighs Capping Exports of AI Chips From Nvidia and AMD to Some Countries

Oct 14, 2024, 8:46 PM

(Bloomberg) -- Biden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said, a move that would limit some nations’ artificial intelligence capabilities.Most Read from BloombergHow Mexico City Averted All-Out DroughtDubai’s Allure to Expats Is Weighing on City’s InfrastructureThe Master Plan That Shaped Pakistan’s Capital Is No Longer WorkingAs Brussels Booms, an Ol