Shares of chip maker AMD fell as much as 18 percent in extended trading Thursday after the company reported third quarter revenue that fell below Wall Street’s estimates.
Here’s how the company did compared with analyst predictions:
- Earnings: 13 cents per share, excluding certain items, vs. 12 cents per share forecast by Refinitiv
- Revenue: $1.65 billion vs. $1.7 billion forecast by Refinitiv
Third quarter revenue represents a 4 percent upside from the year-ago period — an improvement from the second quarter of 2018, when revenue was down 6 percent year-over-year.
But the company is guiding toward weaker revenue for the remainder of the year. AMD is projecting fourth quarter revenue of $1.45 billion, below consensus estimates of $1.6 billion and essentially flat from the fourth quarter of 2017.
This story is developing. Please check back for updates.