:U.S. chipmaker Advanced Micro Devices on Tuesday beat Wall Street expectations for quarterly revenue, helped by growth in its data center business even as it forecast sales below estimates in the current quarter.AMD shares rose 3 per cent after hours. They closed up 3.7 per cent on Tuesday.'Although t
:U.S. chipmaker Advanced Micro Devices on Tuesday beat Wall Street expectations for quarterly revenue, helped by growth in its data center business even as it forecast sales below estimates in the current quarter."Although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long-term growth based on our differentiated product portfolio," AMD Chief Lisa Su said.
The chip designer had already started under-shipping in response to plummeting processor demand as customers looked to clear their inventory stash before buying more chips. Slowing demand for graphics cards, used to enhance visuals and performance on personal computers, also took a toll, while growing signs of enterprise and cloud spending slowdown was an added blow.
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