Yahoo Finance AMD (AMD) To Report Earnings Tomorrow: Here Is What To Expect
Computer processor maker AMD (NASDAQ:AMD) will be reporting earnings tomorrow after the bell. Here's what to expect.
AMD met analysts' revenue expectations last quarter, reporting revenues of $5.47 billion, up 2.2% year on year. It was a mixed quarter for the company, with a decent beat of analysts' EPS estimates but an increase in its inventory levels.
Is AMD a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting AMD's revenue to grow 6.8% year on year to $5.72 billion, a reversal from the 18.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.68 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMD has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 0.6% on average.
Looking at AMD's peers in the semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. SMART's revenues decreased 12.7% year on year, meeting analysts' expectations, and Micron Technology reported revenues up 81.5%, topping estimates by 2%. SMART traded up 26.3% following the results while Micron Technology was down 7.1%.
Read our full analysis of SMART's results here and Micron Technology's results here.
Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 thanks to cooling inflation. 2024 has been a different story as mixed signals have led to market volatility, and while some of the semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 3.7% on average over the last month. AMD is down 11.2% during the same time and is heading into earnings with an average analyst price target of $192.6 (compared to the current share price of $140).
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