AMD beats on earnings but will take $1.5 billion hit to revenue from chip restrictions to China

Lisa Su, CEO of AMD, attends the Artificial Intelligence Action Summit at the Grand Palais in Paris on Feb. 10, 2025. Advanced Micro Devices reported first fiscal-quarter earnings on Tuesday that topped expectations, and provided a strong forecast for current-quarter revenue. Shares of AMD were up 4% in extended trading before receding to fall less than 1% after the company discussed the effect of AI chip export controls. Here's how the chipmaker did versus LSEG expectations for the quarter that ended March 29: Earnings per share : 96 cents adjusted vs. 94 cents expected : 96 cents adjusted vs. 94 cents expected Revenue: $7.44 billion vs. $7.13 billion expected For the current quarter, AMD expects about $7.4 billion in sales with a gross margin of 43%, versus Wall Street estimates for earnings of 86 cents adjusted on $7.25 billion in sales. AMD CEO Lisa Su said that the company achieved its first-quarter results despite grappling regulations on advanced AI chip exports. The comp ... Read full article.