Advanced Micro Devices, Inc.’s (NASDAQ:AMD) quarterly report assumes importance as it will likely give a foretaste of how artificial intelligence-related spending panned out during the quarter. The Santa Clara, California-based chipmaker is due to announce its results after the market close Tuesday.
Key Q2 Expectations: AMD, which is playing catch-up with Nvidia, is widely expected to report second-quarter earnings of $0.68 per share, according to data available on Benzinga Pro. This is up from $0.58 cents per share reported for the year-ago quarter and the $0.62 per share earned in the first quarter of this year.
The earnings estimate has remained fairly stable over the past month. In the past four quarters, AMD reported upside earnings surprises for three quarters and in-line results for a quarter.
Analysts, on average, estimate revenue of $5.724 billion compared to the year-ago’s $5.36 billion and first quarter’s $5.47 billion.
AMD had guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53%.
Rival Intel Corp. (NASDAQ:INTC) is scheduled to report its quarterly results on Thursday.
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