SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported fourth-quarter earnings of $1.51 billion.
The Santa Clara, California-based company said it had profit of 92 cents per share. Earnings, adjusted for one-time gains and costs, were $1.53 per share.
The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The chipmaker posted revenue of $10.27 billion in the period, also surpassing Street forecasts. Fifteen analysts surveyed by Zacks expected $9.67 billion.
For the year, the company reported profit of $4.34 billion, or $2.65 per share. Revenue was reported as $34.64 billion.
For the current quarter ending in March, Advanced Micro said it expects revenue in the range of $9.5 billion to $10.1 billion.
Advanced Micro shares have increased 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $242.11, more than doubling in the last 12 months.
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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