Why AMD Stock Dropped Today
Shares of Advanced Micro Devices (NASDAQ: AMD) fell 6.2% on Wednesday, following the release of the chipmaker's fourth-quarter financial results.
AMD's revenue surged 53% year over year to $3.2 billion. That was above Wall Street's expectations of roughly $3 billion. AMD's adjusted earnings per share, meanwhile, soared 63% to $0.52. That, too, bested analysts' estimates, which had called for EPS of $0.47.
Despite AMD posting strong fourth-quarter earnings figures, its shares sank on Wednesday. Image source: Getty Images.
Source Fool.com
