Advanced Micro Devices (NASDAQ: AMD) shares are higher in after-hours trading after reporting earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.67, which missed analysts’ consensus estimate of $0.69 per share. Sales increased 29.2% year-over-year, with revenue hitting $5.57 billion. This was lower than the $5.65 billion that analysts were looking for.
Looking forward, AMD expects revenue to be in the range of $5.2 billion to $5.8 billion. For reference, analysts were expecting $5.94 billion.
Is AMD Stock a Buy, Sell, or Hold?
AMD has a Moderate Buy consensus rating based on 19 Buys, nine Holds, and one Sell assigned in the past three months. The average AMD stock price target of $95.03 implies 59.34% upside potential.
