On October 26th, Advanced Micro Devices Inc. revealed that its projected fourth-quarter revenues will beat market expectations for the company. The organization said it is expected to generate revenues of $4.5 billion during Q4 2021. This would easily exceed analysts’ average estimate of $4.25 billion, according to Refinitiv data.
Additionally, AMD said its annual revenue growth forecast increased to 65% from 60% after beating third-quarter expectations. This overall performance boost was driven by a 44% increase in the company’s computing and graphics business.
“The data center business has performed very well, and we see strong demand there,” said Chief Executive Lisa Su during a post-earnings statement call.
Net income exploded to $923 million during this quarter. During Q4 2020, the company reported that net incomes were just $390 million.
(All information was provided by Yahoo! Finance)