The earnings announcement of Advanced Micro Devices Inc (NASDAQ: AMD) is among the main corporate events expected today after the closing bell. The chipmaker is expected to release Q2 2023 results at 4.15 pm ET.
Market watchers forecast that AMD’s adjusted earnings would drop sharply to $0.57 per share in the June quarter from $1.05 per share last year. The estimate for second-quarter revenue is $5.31 billion, which is up around 19% from last year.
In the first quarter of 2023, AMD’s revenues decreased 9% annually to $5.35 billion, hurt by a weak performance by the Data Center and Gaming segments. As a result, adjusted earnings plunged 47% year-over-year to $0.60 per share.
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