Advanced Micro Devices (AMD) is down more than 7% late Tuesday as Wall Street reacts to its third-quarter earnings, released after today’s closing bell. Revenue of $6.82 billion exceeded expectations, and so did adjusted earnings per share of $0.92.
However, AMD’s guidance for the fourth quarter arrived slightly below analysts’ expectations, raising concerns about the pace of AI-related growth. The artificial intelligence (AI) chip giant expects Q4 revenue of $7.4-$7.8 billion, which fell narrowly short of the consensus forecast of $7.55 billion at the midpoint.
