AMD forecasts $13B Q3 revenue, shares fall nearly 9% after-hours
AMD just announced its third-quarter revenue outlook at $13 billion, higher than what Wall Street expected, thanks to strong demand for AI data center chips.
Still, investors weren't impressed and the stock dropped nearly 9% after hours, since many hoped for an even bigger leap after AMD's shares more than doubled earlier this year on AI excitement.
AMD revenue up 50% to $11.54B
Last quarter, AMD's revenue jumped 50% year over year to $11.54 billion, with data center sales more than doubling.
CEO Lisa Su says she expects data center sales to more than double in 2027, and AMD forecasts total revenue growth above its more than 35% target.
Plus, AMD is gearing up to take on NVIDIA with a new AI platform coming in 2027 and has landed big deals with Anthropic and Core Scientific to boost its position in the AI hardware race.