Advanced Micro Devices Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $265 million, or $0.16 per share. This compares with $27 million, or $0.02 per share, in last year's second quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.126 billion or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.9% to $5.835 million from $5.359 million last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $265 Mln. vs. $27 Mln. last year. -EPS (Q2): $0.16 vs. $0.02 last year. -Revenue (Q2): $5.835 Mln vs. $5.359 Mln last year.

-Guidance: Next quarter revenue guidance: $6.4 - $7.0 Bln