Advanced Micro Devices Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $709 million, or $0.44 per share. This compares with $123 million, or $0.07 per share, last year.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.57 billion or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.93 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 35.9% to $7.438 billion from $5.473 billion last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings: $709 Mln. vs. $123 Mln. last year. -EPS: $0.44 vs. $0.07 last year. -Revenue: $7.438 Bln vs. $5.473 Bln last year.

-Guidance: Full year EPS guidance: $7.1 - $7.7 Bln