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AMD issues Q1 2024 revenue guidance below analyst expectations

AMD stock was on a steady decline after the company reported some disappointing revenue guidance.

Donovan Erskine

January 30, 2024 2:55 PM

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AMD’s earnings report for Q4 2023 is out and despite the company beating revenue expectations and matching EPS predictions, the stock was steadily dropping in value in after-hours trading. This is likely due to the fact that the revenue guidance AMD issued for the upcoming quarter was considerably lower than what analysts were expecting.

AMD’s guidance for the upcoming Q1 2024 was included in its final earnings report for the previous fiscal year. The technology company is forecasting $5.4 billion in revenue for the quarter, against an expectation of $5.7 billion.

The news caused AMD stock to dip considerably in after-hours trading. It’s value dropped as low as $160.56 after ending the day at $172.11.

Despite the damage done to the stock, AMD posted a relatively good quarter, beating revenue predictions and being in line with EPS expectations.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_