AMD Q1 2024 earnings results fall in-line with expectations
AMD's revenue and price-per-share matched expectations, though it missed the whisper number.
This week is packed full of tech companies reporting on their earnings and the latest is AMD, which reported its Q1 2024 results. The popular manufacturer of PC hardware showed earnings that fell in-line with Wall Street expectations, though the price-per-share did miss the whisper number.
AMD released its Q1 2024 earnings results on April 30, 2024. In this report, the company revealed that its revenue reached $5.5 billion against an expected $5.5 billion. Similarly, the EPS hit $0.62 per share against an expected $0.61 per share. Unfortunately, AMD was not able reach the whisper which was set at $0.63 a share. So while it matched both expectations, it was not able to reach the whisper number, which has resulted in some pressure applied to its stock price in after-hours trading.
Today’s results are actually slightly above what AMD was forecasting back in January 2024. When AMD issued its Q4 2023 results, the company set guidance to $5.4 billion, which was lower than the expected $5.7 billion.
Looking forward, AMD expects its revenue for Q2 2024 to be approximately $5.7 billion. The company is looking to give this figure a $300 million leeway in both directions, which could see the company hit $6 billion in revenue or as little as $5.4 billion.
Be sure to read over our Shacknews Finance page for the latest earnings from this quarter.
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