AMD Shares Surge as Chipmaker Gives Rosy 2019 Sales Forecast
- New processors, data-center chips are helping shore up revenue
- Rivals have given disappointing projections in recent days
An Advanced Micro Devices Inc. AMD-A10-4600M Series APU computer chip.
Photographer: Ashley Pon/Bloomberg
Advanced Micro Devices Inc., the second-largest maker of computer processors, reported fourth-quarter profit that met analysts’ estimates and gave a rosy outlook for 2019 revenue, relieving concerns that the chipmaker would fare worse after rivals’ disappointing results.
Profit excluding certain items was 8 cents a share, matching the average of analyst projections compiled by Bloomberg. For 2019, revenue will rise at a percentage in the high single digits, the Santa Clara, California-based company said Tuesday in a statement. That compares with predictions for sales to increase 6 percent. Shares climbed as much as 11 percent in late trading.