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AMD reports record revenue but Q4 forecast disappoints
Advanced Micro Devices reported record Q3 revenue of $6.8 billio, up 18%. But the shares fell due to a disappointing forecast for Q4.
“We delivered strong third quarter financial results with record revenue led by higher sales of EPYC and Instinct data center products and robust demand for our Ryzen PC processors,” said AMD CEO Lisa Su, in a statement. “Looking forward, we see significant growth opportunities across our data center, client and embedded businesses driven by the insatiable demand for more compute.” “We are pleased with our execution in the third quarter, delivering strong year-over-year expansion in gross margin and earnings per share,” said AMD CFO Jean Hu, in a statement.
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