AMD Shares Drop After CEO Guides Q1 Data Center Revenue Down 7%
Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are diving Wednesday following its fourth-quarter earnings release on Tuesday. Data center segment revenues and guidance given on the company’s conference call are weighing on investors. What To Know: AMD’s Datacenter fourth-quarter revenue came in below analyst expectations of $4.14 billion, per CNBC, and the company guided for further declines ahead. CFO Jean Hu said on the company’s earnings call that data center revenue is expected to decline by about 7% in the first quarter, in line with the company’s overall revenue. CEO Lisa Su added more color to the Q1 guidance and attributed the anticipated decline to seasonality across business segments. “And the way that breaks out in each of the segments assume that data center would be down just about that average, so the corporate average. We would expect the client business and the embedded business to be down more than that. Just given where seasonality is for […]
AMD Shares Drop After CEO Guides Q1 Data Center Revenue Down 7% Read Post »