Advanced Micro Devices Inc. (AMD) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line totaled $0.97 billion, or $0.80 per share. This compares with $1.78 billion, or $1.45 per share, in last year's fourth quarter.
Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.12 billion or $0.92 per share for the period.
Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 49.1% to $4.83 billion from $3.24 billion last year.
Advanced Micro Devices Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $0.97 Bln. vs. $1.78 Bln. last year.
-EPS (Q4): $0.80 vs. $1.45 last year.
-Analyst Estimates: $0.76
-Revenue (Q4): $4.83 Bln vs. $3.24 Bln last year.
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