Analysts on Wall Street project that Advanced Micro Devices (AMD) will announce quarterly earnings of $0.47 per share in its forthcoming report, representing a decline of 31.9% year over year. Revenues are projected to reach $7.41 billion, increasing 27% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Advanced Micro metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Net revenue- Data Center' will reach $3.31 billion. The estimate indicates a year-over-year change of +16.8%.
The combined assessment of analysts suggests that 'Net revenue- Embedded' will likely reach $818.30 million. The estimate points to a change of -5% from the year-ago quarter.
The consensus estimate for 'Net revenue- Gaming' stands at $750.40 million. The estimate indicates a change of +15.8% from the prior-year quarter.
Analysts predict that the 'Net revenue- Client' will reach $2.53 billion. The estimate indicates a change of +69.4% from the prior-year quarter.
View all Key Company Metrics for Advanced Micro here>>>
Shares of Advanced Micro have demonstrated returns of +29.6% over the past month compared to the Zacks S&P 500 composite's +2.7% change. With a Zacks Rank #3 (Hold), AMD is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Advanced Micro Devices, Inc. (AMD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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