Shares of Advanced Micro Devices (NASDAQ:AMD) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.69, which beat analysts’ consensus estimate of $0.67 per share.
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Sales increased by 15.9% year-over-year, with revenue hitting $5.6 billion. This beat analysts’ expectations of $5.52 billion.
Looking forward, management now expects revenue for Q1 2023 to be in the range of $5 billion to $5.6 billion. For reference, analysts were expecting $5.51 billion in revenue.
Overall, Wall Street has a consensus price target of $91.82 on AMD stock, implying 22.18% upside potential, as indicated by the graphic above.