Shares of AMD (NASDAQ:AMD) fell in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $0.60, which beat analysts’ consensus estimate of $0.56 per share. Sales decreased by 9.2% year-over-year, with revenue hitting $5.35 billion. This beat analysts’ expectations of $5.31 billion.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
AMD management offered some projections for the next quarter as it looks for revenue to come in between $5 billion and $5.6 billion. That doesn’t stack up well against analyst projections of $5.52 billion.
Overall, Wall Street has a consensus price target of $105.58 on AMD stock, implying 17.6% upside potential, as indicated by the graphic above.