Advanced Micro Devices Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $0.97 billion, or $0.80 per share. This compares with $1.78 billion, or $1.45 per share, in last year's fourth quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $1.12 billion or $0.92 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 49.1% to $4.83 billion from $3.24 billion last year.

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

-Earnings (Q4): $0.97 Bln. vs. $1.78 Bln. last year. -EPS (Q4): $0.80 vs. $1.45 last year. -Analyst Estimates: $0.76 -Revenue (Q4): $4.83 Bln vs. $3.24 Bln last year.