Advanced Micro: Q2 Earnings Snapshot

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported second-quarter earnings of $265 million.

On a per-share basis, the Santa Clara, California-based company said it had net income of 16 cents. Earnings, adjusted for one-time gains and costs, came to 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The chipmaker posted revenue of $5.84 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $5.71 billion.

For the current quarter ending in September, Advanced Micro said it expects revenue in the range of $6.4 billion to $7 billion.

Advanced Micro shares have fallen 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $138.44, a climb of 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD