Advanced Micro Devices Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $786 million, or $0.56 per share. This compares with $555 million, or $0.45 per share, in last year's first quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.59 billion or $1.13 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 70.7% to $5.89 billion from $3.45 billion last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $786 Mln. vs. $555 Mln. last year. -EPS (Q1): $0.56 vs. $0.45 last year. -Analyst Estimate: $0.91 -Revenue (Q1): $5.89 Bln vs. $3.45 Bln last year.

-Guidance: Next quarter revenue guidance: $6.3 - $6.7 Bln Full year revenue guidance: $26.3 Bln