Published , by Donovan Erskine
Published , by Donovan Erskine
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.