Company report results

Advanced Micro Devices (AMD) (NASDAQ:AMD) on Tuesday reported fourth-quarter results that beat analysts' estimates. The revenue figure exceeded forecasts.

The company reported $0.92 earnings per share and revenues of $4.83bln. Analysts had anticipated earnings per share of $0.7599 and total revenue of $4.52bln in their forecasts.

AMD shares were up 11.36 percent trading at $130.05 at after market close, according to the report.

AMD shares, up 3% this year, have performed better than overall according to the S&P 500 index, having fallen 4% since the start of the year.

Company forecasts

AMD forecasts first-quarter revenue of $5 billion, worth noting that this is 45% higher than a year ago and 4% higher sequentially.

At the same time, Advanced Micro Devices expects the gross margin excluding Generally accepted accounting principles (GAAP) to increase to 50.5% in the Q4.

CEO Lisa T. Su said that the company expects significant growth in 2022, because AMD is expanding its current portfolio, as well as launching a new generation of products for computers, data centers and games.

Advanced Micro Devices is an electronics chip maker that was founded in 1969 by Walter Jeremiah Sanders III. The company is headquartered in Santa Clara, California.