Advanced Micro Devices Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) announced a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $66 million, or $0.04 per share. This compares with $923 million, or $0.75 per share, in last year's third quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.10 billion or $0.67 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 29.2% to $5.57 billion from $4.31 billion last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $66 Mln. vs. $923 Mln. last year. -EPS (Q3): $0.04 vs. $0.75 last year. -Analyst Estimates: $0.68 -Revenue (Q3): $5.57 Bln vs. $4.31 Bln last year.

-Guidance: Next quarter revenue guidance: $5.2 - $5.8 Bln Full year revenue guidance: $23.2 - $23.8 Bln