AMD shares fall even as results, outlook top Street view

Advanced Micro Devices Inc. shares fell in the extended session Tuesday even after the chip maker’s quarterly results and outlook topped Wall Street views. AMD shares dropped 5% to $12.25 after hours, and were up 25% year to date at Tuesday’s close. The company reported fourth-quarter net income of $61 million, or 6 cents a share, compared with a loss of $51 million, or 6 cents a share, in the year-ago period. Adjusted earnings were 8 cents a share. Revenue rose to $1.48 billion from $1.11 billion in the year-ago period. Analysts surveyed by FactSet had estimated 5 cents a share on revenue of $1.41 billion. For the first quarter, AMD estimates revenue of $1.5 billion to $1.6 billion. Analysts expect revenue of $1.25 billion.

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