TECH - Will AI Ignite AMD's Stock? Q1 Earnings To Test Investor Confidence Today | Benzinga
Chipmaker Advanced Micro Devices, Inc. (NASDAQ:AMD) is scheduled to report its first-quarter results Tuesday after the market closes. The company’s exposure to artificial intelligence technology makes its earnings a significant report to keep an eye on to confirm whether the momentum is alive and kicking.
Key Q1 Metrics – What To Expect: Santa Clara, California-based AMD is widely expected to report a modest year-over-year increase in first-quarter earnings and revenue.
Q1’24 Consensus* Q1’24 Guidance Q1’23 Q4’24
Revenue $5.46B $5.4B +/- $300 M $5.35B $6.17B
Non-GAAP EPS 61 cents N/A 60 cents 77 cents
Non-GAAP gross margin N/A 52% 50% 51%
Rosenblatt analyst Hans Mosesmann said he expects an in-line print, with a bias to the upside. His optimism is predicated on likely strength in MI300 AI accelerator sales and EPYC experience gains in CPUs. “This growth helps offset the usual seasonal weakness in PCs, as well as the ongoing weakness in FPGAs and consoles,” he said.
Data released by Gartner showed that worldwide PC shipments fell a steep 30% year-over-year to 55.2 million units in the first quarter, with the weakness ...