Boston, MA 07/23/2013 (wallstreetpr) – Shares of Advanced Micro Devices, Inc. (NYSE:AMD) fell 3.23% to close at $3.90 in its last trading session. This was close to the higher end of its 52-week price range of $1.81 to $4.65. Also, shares remained heavily traded with 50.01 million shares exchanging hands as against an average volume of 30.17 million shares.
AMD last released its earnings data on Thursday, July 18. The company successfully reported earnings of ($0.09) per share for the quarter, beating the analyst estimate of ($0.12), by $0.03. This was possible with revenues of $1.16 billion, compared to the consensus estimate of $1.11 billion for the quarter. The company reported an EPS of $0.06 in the same quarter previous year. Analysts have estimated EPS for the current fiscal year to be ($0.24).
The management stated that restructuring of the company has enabled it to deliver better than expected financial result. The company’s performance in its Q2 was directly correlated to the death of PC industry. However, the company remains optimistic of recovering, with diversifying its business, to mitigate the loss it sustains from a declining PC market. AMD has introduced several new client processors in this quarter itself. The new AMD Mainstream, Elite Performance and Elite Mobility A-Series APUs offers increased performance as compared to earlier AD APUs of the company. Many significant companies have also started rolling out its products based on these latest series of APUs. AMDs Elite Mobility A-Series APU meant for tablets, or any of its hybrids or other notebooks have won the “Best Choice of Computex Taipei” ward for 2013.
The company has thereby promised a significant revenue growth coupled with turning around to be a profitable company in the third quarter. The company is expecting to increase its revenue by 22%, plus minus 3%.
