Advanced Micro Devices and Electronic Arts released their latest earnings after closing bell tonight. AMD posted adjusted losses of 1 cent per share on $1.11 billion in sales, compared to Wall Street’s estimates of 1 cent per share in non-GAAP losses on $1.07 billion in sales. In the same quarter a year previously, the chip maker reported losses of 10 cents per share on $958 million in revenue. AMD had guided for an 18% quarter over quarter decline in sales, which was in line with the consensus and a 12% year over year increase.
Electronic Arts reported $1.15 billion in net revenue. The company broke even on a GAAP basis in the third quarter, marking a significant improvement from the 14 cents per share in lost in the same quarter a year previously. It no longer reports non-GAAP numbers. In the same quarter a year previously, the game maker reported $1.83 per share in adjusted earnings on $1.8 billion in adjusted sales and $1.07 billion in GAAP sales. Electronic Arts said in its previous quarter earnings report that it expected GAAP revenue for the fourth quarter to be around $1.13 billion.
AMD’s per-share losses narrow
AMD’s GAAP losses narrowed to 6 cents per share from losses of 13 cents per share in the same quarter a year previously. Computing and Graphics revenue rose 28% to $600 million, while Enterprise, Embedded and Semi-Custom revenue rose 4% to $506 million.
For the current quarter, AMD expects an 11% sequential decline in revenue, plus or minus 3%. This results in an 18% year over year increase in first quarter revenue.
Shares of AMD rose by as much as 2.51% to $10.63 in after-hours trades following tonight’s earnings report.
Electronic Arts breaks even
EA had guided for losses of about 17 cents per share. The game maker said 60% of its net revenue during the quarter was digital. FIFA 17 was last year’s best-selling game title.
“With the top console games and most-downloaded mobile portfolio in the industry for Q3, Electronic Arts is growing, engaging and exciting a global community of players,” Electronic Arts CEO Andrew Wilson said in a statement. “We will continue to push the boundaries of play, with stunning new titles like Mass Effect: Andromeda, global competitive gaming tournaments and more amazing experiences coming in the year ahead.”
For the current quarter, the game maker expects net revenue of around $1.5 billion and earnings per share of about $1.64.
Shares of Electronic Arts declined by as much as 0.52% to $83 in after-hours trades following tonight’s earnings report.
