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.
Q2 Hedge Funds Resource Page Now LIVE!!! Lives, Conferences, Slides And More [UPDATED 7/6 22:21 EST]
Simply click the menu below to perform sorting functions. This page was just created on 7/1/2020 we will be updating it on a very frequent basis over the next three months (usually at LEAST daily), please come back or bookmark the page. As always we REALLY really appreciate legal letters and tips on hedge funds Read More
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.