Advanced micro-devices (AMD) – Get Report investors hope the CPU and GPU developer will once again beat estimates and raise its full-year expectations when it reports after the closing bell on Tuesday.
Among analysts polled by FactSet, the consensus is that AMD reports second-quarter revenue of $3.62 billion (an increase of 87% annually) and non-GAAP EPS of 54 cents.
AMD typically shares quarterly and annual revenue forecasts in its report. The company’s third quarter revenue consensus is $3.82 billion (up 36% per year), while its full year revenue consensus is $14.65 billion (up 50%). This latest figure is in line with AMD’s April forecast for growth of about 50% for the full year.
Real Money technical columnist Eric Jhonsa will detail AMD’s second quarter report, due Tuesday after the bell, along with an earnings call scheduled for 5 p.m. Eastern.
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4:17 p.m. ET: For the third quarter, AMD expects revenue of $4.1 billion (+/- $100 million), above a consensus of $3.82 billion. Full year revenue growth outlook has been raised from ~50% to ~60%.
Shares are up 1.6% after closing time.
4:15 p.m. ET: Results are out. Second quarter revenue of $3.85 billion surpasses a consensus of $3.62 billion. Non-GAAP EPS of $0.63 beats a consensus of $0.54.
4:12 PM ET: Still waiting for the Q2 report to hit the wires.
4:06 PM ET: Any comments AMD shares about its expectations for the easing of supply restrictions during the second half of the year will be closely watched. Also note any comments regarding the pending Xilinx deal – Xilinx is now trading at a healthy discount to the implied price of the AMD deal amid wider fears about mergers and acquisitions subject to Chinese regulatory review.
4:01 p.m. ET: Shares of AMD are down 0.9% to $91.03 today, amid a 1.2% drop for the Nasdaq. The Q2 report should be out soon.
4:00 p.m. ET: Last week, CPU archrival Intel reported strong growth in PC CPU sales, while forecasting the PC market will continue to grow beyond this year.
Intel also reported a 20% year-over-year decline in sales of its Data Center Group to cloud service providers, which was widely seen as a sign of additional market share gains by AMD.
3:57 p.m. ET: AMD’s report usually comes out a little after the bell. In April, the Q1 report was posted at 4:10 PM ET.
3:55 PM ET: After big gains in 2020, AMD’s share is falling fractionally YTD en route to the Q2 report. Despite a strong Q1 report, stocks sold into the 1970s in May, before rebounding in the past 2 months.
3:51 PM ET: Any change in AMD’s full-year revenue forecast will receive a lot of attention. In April, AMD forecasted ~50% growth for the full year, compared to a previous expectation of ~37%.
3:50 PM ET: The FactSet consensus is that AMD is posting second quarter revenue of $3.62 billion, GAAP EPS of $0.47 and non-GAAP EPS of $0.54.
For the third quarter (AMD provides quarterly sales guidance in its reports), the revenue consensus is $3.82 billion.
3:48 PM ET: Hi. I’ll be live blogging and calling AMD’s Q2 report.