AMD stock slides as revenue forecast comes in light

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AMD said expects adjusted third revenue of $1.75 billion to $1.85 billion, while analysts had forecast on revenue of $1.94 billion.

The company reported second-quarter net income of $ 35 million, or 3 cents a share, compared with $116 million, or 11 cents a share, in the year-ago period. Adjusted earnings were 8 cents a share.

Revenue declined to $1.53 billion from $1.76 billion in the year-ago quarter.

Analysts surveyed by FactSet had forecast earnings of 8 cents a share on revenue of $1.52 billion.


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