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AMD (NASDAQ:AMD) plunges 21.5% after Q3 results missed revenue by $50M with a reported $1.65B. Non-GAAP EPS narrowly beat by a penny at $0.13 but GAAP EPS missed by as much with $0.09. The company stumbled in the Computing and Graphics segment, where blockchain-related GPU sales “were negligible.”
mputing and Graphics missed consensus with $938M in revenue (+12% Y/Y/ -14% Q/Q) compared to the $1.05B estimate. On the year growth was driven by Ryzen desktop and mobile products sales, partly offset by lower graphics sales. But the blockchain drop hit hard since ti accounted for high-single-digit percentage of total revenue last year.
Enterprise, Embedded and Semi-Custom revenue beat with $715M revenue (-5% Y/Y; +7% Q/Q) compared to $654.7M. Quarterly increase due to higher semi-custom, IP-related and server revenue.
Downside Q4 guidance has revenue of $1.4B to $1.5B (consensus: $1.59B). Industry bellwethers TI and STMicroelectronics have also warned on future weakness.
mputing and Graphics missed consensus with $938M in revenue (+12% Y/Y/ -14% Q/Q) compared to the $1.05B estimate. On the year growth was driven by Ryzen desktop and mobile products sales, partly offset by lower graphics sales. But the blockchain drop hit hard since ti accounted for high-single-digit percentage of total revenue last year.
Enterprise, Embedded and Semi-Custom revenue beat with $715M revenue (-5% Y/Y; +7% Q/Q) compared to $654.7M. Quarterly increase due to higher semi-custom, IP-related and server revenue.
Downside Q4 guidance has revenue of $1.4B to $1.5B (consensus: $1.59B). Industry bellwethers TI and STMicroelectronics have also warned on future weakness.