Tuesday, January 26, 2021 5:39 PM EST
By The Associated Press
SANTA CLARA, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter earnings of $1.78 billion.
The Santa Clara, California-based company said it had net income of $1.45 per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The chipmaker posted revenue of $3.24 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $3.02 billion.
For the year, the company reported profit of $2.49 billion, or $2.06 per share. Revenue was reported as $9.76 billion.
For the current quarter ending in April, Advanced Micro said it expects revenue in the range of $3.1 billion to $3.3 billion. Analysts surveyed by Zacks had expected revenue of $2.71 billion.
Advanced Micro shares have risen slightly more than 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $94.71, a rise of 92% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD