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AMD dropped 6% to $161.65 after the maker of advanced semiconductors offered a weak revenue growth outlook, disappointing some investors.

Revenue in the fourth quarter increased 10% to $6.2 billion from $5.6 billion, net income soared to $667 million from $21 million, and diluted earnings per share advanced to 41 cents from 1 cent a year ago.

For the full year 2023, the company reported revenue of $22.7 billion, net income of $854 million, and diluted earnings per share of $0.53.

For the first quarter of 2024, AMD expects revenue to be approximately $5.4 billion.

AMD expects data center segment revenue to be flat, with a seasonal decline in server sales offset by a strong data center GPU ramp.

Client, embedded, and gaming segment sales are expected to decline sequentially, with semi-custom revenue expected to decline by a significant double-digit percentage.

The company added, non-GAAP gross margin is expected to be approximately 52%.


31 Jan, 2024

     

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