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.
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.
