In its upcoming report, Advanced Micro Devices (AMD) is predicted by Wall Street analysts to post quarterly earnings of $1.30 per share, reflecting an increase of 35.4% compared to the same period last year. Revenues are forecasted to be $9.84 billion, representing a year-over-year increase of 32.3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Advanced Micro metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net revenue- Data Center' of $5.57 billion. The estimate points to a change of +51.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Net revenue- Embedded' should come in at $855.19 million. The estimate indicates a change of +3.9% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net revenue- Gaming' will likely reach $673.91 million. The estimate suggests a change of +4.2% year over year.
It is projected by analysts that the 'Net revenue- Client' will reach $2.75 billion. The estimate indicates a year-over-year change of +19.8%.
View all Key Company Metrics for Advanced Micro here>>>Over the past month, Advanced Micro shares have recorded returns of +60.4% versus the Zacks S&P 500 composite's +12.2% change. Based on its Zacks Rank #2 (Buy), AMD will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
