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Why AMD Stock Surged 23% in November

TheMotleyFool

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Why AMD Stock Surged 23% in NovemberPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of Advanced Micro Devices (NASDAQ: AMD) climbed 23% last month, according to data provided by S&P Global Market Intelligence, after the chipmaker delivered strong third-quarter results and announced a blockbuster acquisition in late October.

AMD's revenue jumped 56% year over year to $2.8 billion, while its net income soared 148% to $390 million, or $0.32 per share. The gains were fueled by robust sales of AMD's highly regarded Ryzen and Radeon processors. "Our business accelerated in the third quarter as strong demand for our PC, gaming, and data center products drove record quarterly revenue," CEO Lisa Su said in a press release.

Advanced Micro Devices' profits are growing rapidly. Image source: Getty Images.

Source Fool.com

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