After an already atrocious day session, AMD shares are bloodbathing after-hours (down over 25% overall) after it reported a disappointing miss on revenues and slashed guidance for Q4…
The key headline prints were:
However, the giant chipmaker whose shares have literally exploded in 2018 (AMD shares were up 110% this year through Wednesday), slashed its Q4 guidance to about $1.45b ( plus or minus $50m) versus estimates of $1.60b.
Which pushed shares down to August lows…
Desperater to put some lipstick on that pig, CEO Lisa Su in a press release.
“We delivered our fifth straight quarter of year-over-year revenue and net income growth driven largely by the accelerated adoption of our Ryzen, EPYC and datacenter graphics products.”
“Client and server processor sales increased significantly although graphics channel sales were lower in the quarter. Looking forward, we believe we are well positioned for further market share gains as we continue making significant progress towards our long-term financial targets.”
Double-Top in chip stocks anyone?
The post ‘Chipwrecked’: AMD Crashes 25% After Revenue Miss, Q4 Guidance Cut appeared first on crude-oil.news.