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Published on 1 May 2024 on Benzinga

Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day...

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Shares of Advanced Micro Devices, Inc. AMD fell sharply during Wednesday's session as the company reported first-quarter results and issued revenue guidance for the second quarter.

AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue. Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively, according to data from Benzinga Pro.

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