AMD managed to squeak out an adj. profit in 2Q17 as the chip maker posted higher revenue in its computing and graphics business. The company earned $0.02 per share on adj. basis, compared to a loss of $0.05 a year ago. On a GAAP basis, the company lost $16 mln, leading to an overall loss of $0.02 per share. Revenue grew 19% YoY to $1.22 bln. AMD expects revenue to increase 20-26% sequentially. The midpoint of guidance would result in 3Q17 revenue increasing approx. 15% YoY. The company now expects annual revenue to increase by a mid to high-teens percentage, compared to prior guidance of low double digit percentage revenue growth. AMD's Computing and Graphics business grew 51%, while Enterprise, Embedded and Semi-Custom business fell 5%. A graphical look into the earnings: http://ift.tt/2vH4Veb
Submitted July 25, 2017 at 06:20PM by DMartis http://ift.tt/2tHqw9j
