Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading higher by 2.1% to $115.53 Friday morning. The stock is trading higher, rebounding following weakness in recent sessions after the company issued third-quarter guidance with a midpoint below estimates. The overall tech sector fell earlier this week after Fitch downgraded the long-term credit rating of the United States.
What Happened With Earnings?
For the second quarter that ended June 30, AMD reported non-GAAP earnings per share of 58 cents, ahead of the consensus estimate of 52 cents per share.
The bottom-line number was down 44.76% from the year-ago quarter’s $1.05 per share and 3.33% lower than the first quarter’s 60 cents per share.
The Santa Clara, California-based company’s revenue fell 17.56% year-over-year but rose 0.94% sequentially to $5.36 billion…Read More
According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.
