AMD beats Q2 expectations as guidance prompts 9% after-hours selloff
AMD just posted its second-quarter earnings and beat Wall Street's expectations, bringing in $11.54 billion in revenue and $1.66 a share, both a bit higher than predicted.
But investors weren't thrilled about what's next: AMD's forecast for the upcoming quarter didn't hit the high marks some hoped for, leading to a 9% dip in after-hours trading.
AMD data center revenue tops $6.7B
The real most valuable player for AMD this quarter was its data center business, which saw sales more than double to $6.7 billion thanks to big demand for CPUs and GPUs.
CFO Jean Hu sounded optimistic about even stronger growth ahead, while CEO Lisa Su said she expects data center sales to double again by 2027 as demand keeps rising.
AMD investments $808 million, Lisa Su optimistic
AMD ramped up its investments too, spending jumped from $282 million last year to $808 million this quarter.
Despite talk of a market slowdown, CEO Lisa Su noted things have actually held up better than expected so far.