Analysts on Wall Street project that Advanced Micro Devices (AMD) will announce quarterly earnings of $1.17 per share in its forthcoming report, representing an increase of 27.2% year over year. Revenues are projected to reach $8.72 billion, increasing 27.9% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Advanced Micro metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Net revenue- Data Center' should come in at $4.18 billion. The estimate indicates a change of +17.7% from the prior-year quarter.
Analysts expect 'Net revenue- Embedded' to come in at $903.49 million. The estimate suggests a change of -2.5% year over year.
Analysts predict that the 'Net revenue- Gaming' will reach $1.05 billion. The estimate suggests a change of +126.9% year over year.
The consensus among analysts is that 'Net revenue- Client' will reach $2.60 billion. The estimate suggests a change of +38.1% year over year.
View all Key Company Metrics for Advanced Micro here>>>
Shares of Advanced Micro have demonstrated returns of +61.2% over the past month compared to the Zacks S&P 500 composite's +3.6% 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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