On November 4, Advanced Micro Devices rose 5.19% Overnight, trading at $508.0/share, with Turnover of $134,700.
The move followed an earnings-driven catalyst: the company reported third-quarter adjusted EPS of $2.09 versus market expectations of $1.95, and revenue of $13.377 billion versus expectations near $13.09 billion.
Guidance was the stronger signal for investors. Advanced Micro Devices projected fourth-quarter revenue of about $17.0 billion, plus or minus 3%, above consensus near $16.23 billion to $16.29 billion. Third-quarter data center revenue rose 97% year over year to $8.546 billion, accounting for roughly 64% of total revenue, while management said data center growth should accelerate in the fourth quarter as Helios and Venice ramp.
Additional details were mixed but broadly supportive: gaming revenue of $773 million and embedded revenue of $1.11 billion were both ahead of consensus, while fourth-quarter adjusted gross margin was guided to about 55%, slightly below a 55.5% expectation.
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