AMD Beats Profit Estimates as It Pushes Deeper Into Servers
- Shares climb after company predicts further gains in market
- Unlike some peers, sales at the chipmaker are still increasing
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Advanced Micro Devices Inc. climbed in late trading after an expansion into server processors helped offset a slumping personal-computer market last quarter and the chipmaker vowed to make further gains.
Profit topped analysts’ predictions in the third quarter, with sales coming in roughly in line with projections. In the current period, revenue will be approximately $5.5 billion. Though that missed the average estimate of about $5.9 billion, it represents an increase at a time when several of AMD’s peers are suffering contractions.