Computer processor maker AMD (NASDAQ:AMD) will be reporting earnings tomorrow afternoon. Here’s what to expect.
AMD beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $7.66 billion, up 24.2% year on year. It was a decent quarter for the company, with a meaningful improvement in its inventory levels.
This quarter, analysts are expecting AMD’s revenue to grow 30.2% year on year to $7.13 billion, improving from the 2.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.93 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMD has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.9% on average.
Looking at AMD’s peers in the processors and graphics chips segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Qorvo’s revenues decreased 7.6% year on year, beating analysts’ expectations by 2.2%, and Intel reported flat revenue, topping estimates by 2.6%. Qorvo traded up 14.4% following the results while Intel was down 6.7%.