Advanced Micro Devices (NASDAQ:AMD) third-quarter results surpassed Wall Street expectations, but a weaker projection for the current quarter cast a shadow over this. This led to a drop of over 2% in the shares of AMD in pre-market today.
The company announced an adjusted EPS of $0.70, with revenues reaching $5.80 billion, outpacing the predictions of Wall Street analysts, who foresaw an EPS of $0.68 cents and revenues of $5.7 billion.
However, for the upcoming fiscal fourth quarter, AMD estimates revenues around $6.1 billion (with a possible deviation of $300 million), marking roughly a 9% growth year-on-year. This is lower than the projected $6.4 billion.