Advanced Micro Devices Inc forecast third-quarter revenue below Wall Street esti...
Sales in AMD’s enterprise, embedded and semi-custom segment fell 12% to $591 million in the second quarter, largely hit by lower demand for its chips used in gaming consoles. But higher sales of the company’s EPYC server processor helped the segment beat FactSet estimates of $544.3 million.
Microsoft’s next-generation Xbox console as well as Sony’s PlayStation 5 are both expected to launch next year. Both the devices will be powered by AMD’s chips. The company forecast a mid-single digit percent increase in 2019 revenue, as growth in its Ryzen, EPYC and Radeon processors offsets lower-than-expected semi-custom revenue.
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