Advanced Micro Devices (AMD) results:
Adjusted EPS: $0.48, slightly below the street’s $0.49 estimate
Revenue: $7.69 billion, above the forecast of $7.40 billion
$800 million in inventory and related charges were recorded due to U.S. export controls
Guidance:
Revenue: $8.7 billion for Q3, ahead of expectations at $8.31 billion
Gross Margin: Q3 GAAP gross margin projected at ~54%
Revenue Outlook: Current forecast excludes any revenue from MI308 AI chip shipments to China due to ongoing regulatory uncertainty
AMD shares rose circa 2% following the release.
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