Advanced Micro Devices Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) reported a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $771 million, or $0.47 per share. This compares with $299 million, or $0.18 per share, in last year's third quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.5 billion or $0.92 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.6% to $6.819 million from $5.800 million last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $771 Mln. vs. $299 Mln. last year. -EPS (Q3): $0.47 vs. $0.18 last year. -Revenue (Q3): $6.819 Mln vs. $5.800 Mln last year.

-Guidance: Next quarter revenue guidance: $7.2-$7.8 Bln