AMD Shares Climb as Server Market Helps Sales Forecast
- Fourth-quarter results also come in ahead of estimates
- Data-center sales helped offset decline in demand for PC chips
Advanced Micro Devices Inc. headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Advanced Micro Devices Inc., the second-largest maker of computer processors, gave a better-than-feared sales forecast for the first quarter as gains in the lucrative server market help make up for a collapse in demand for PC chips.
Revenue will be as much as $5.6 billion in the period, AMD said in a statement Tuesday, compared with an average analyst prediction of $5.56 billion — with estimates coming in as low as $5 billion.