AMD stock jumps 8% on earnings as data center revenue nearly doubles
Image: CNBC
Advanced Micro Devices reported third-quarter earnings on Tuesday that beat Wall Street's expectations, with revenue jumping 45% and data center sales nearly doubling from a year earlier. The stock was up 8% in extended trading.
Here's how the chipmaker did versus LSEG consensus estimates for the quarter:
Revenue increased from $9.25 billion a year earlier, AMD said in a statement. Neoclouds like CoreWeave and Nebius rallied earlier Tuesday and remained higher after AMD reported results.
CEO Lisa Su said on the earnings call that she expects server revenue to double year over year in 2027 and data center AI growth to accelerate even faster than the company had projected 90 days ago.
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