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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.