Revenue Update on Advanced Micro Devices(NASDAQ:AMD)

Advanced Micro Devices(NASDAQ:AMD) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 21, 2016. Company reported revenue of $1.03B. Analysts estimated a revenue of $951.89M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.08.

In a different note, On Jul 8, 2016, Bernstein said it Downgrades its rating on Advanced Micro Devices. The shares have been rated ‘Underperform’ by the firm. On Jun 16, 2016, Canaccord Genuity said it Upgrades its rating on Advanced Micro Devices. In the research note, the firm Raises the price-target to $3.25 per share.

Advanced Micro Devices (AMD) remained unchanged at the close of Wednesday session. Even as the volume increased to 2,01,02,373 ,the shares failed to make any impression and ended at 0 points or 0.00% at $5.41. The trading session commenced at $5.48 and the stock hit a high of $5.5 and touched $5.4 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $5.57 and the 52-week low is $1.61. The company has a market cap of $4,293 M and has approximately 79,35,19,840 outstanding shares.

Advanced Micro Devices Inc. is a global semiconductor company with facilities across the world. The Company offers x86 microprocessors as standalone devices or as incorporated as an accelerated processing unit (APU) chipsets discrete graphics processing units (GPUs) and professional graphics and server and embedded processors dense servers semi-custom System-on-Chip (SoC) products and technology for game consoles. The Company operates in two segments: the Computing and Graphics segment which includes desktop and notebook processors and chipsets discrete GPUs and professional graphics and the Enterprise Embedded and Semi-Custom segment which includes server and embedded processors dense servers semi-custom SoC products engineering services and royalties. The Company sells its products through direct sales force and through independent distributors and sales representatives in both domestic and international markets.

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