(Updated - October 27, 2020 6:40 AM EDT)

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q3 EPS of $0.41, $0.06 better than the analyst estimate of $0.35. Revenue for the quarter came in at $2.8 billion versus the consensus estimate of $2.56 billion.

GUIDANCE:

Advanced Micro Devices, Inc. sees Q4 2020 revenue of $3 billion, versus the consensus of $2.62 billion.

• AMD’s outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
• For the fourth quarter of 2020, AMD expects revenue to be approximately $3.0 billion, plus or minus $100 million, an increase of approximately 41 percent year-over-year and 7 percent sequentially. The year-over-year increase is expected to be primarily driven by the ramp of new Ryzen, EPYC and semi-custom products and growing customer momentum. AMD expects non-GAAP gross margin to be approximately 45 percent in the fourth quarter of 2020.
• AMD now expects 2020 revenue to grow by approximately 41 percent compared to 2019, up from prior guidance of 32 percent. Non-GAAP gross margin is expected to be approximately 45 percent, consistent with prior guidance.

For earnings history and earnings-related data on Advanced Micro Devices, Inc. (AMD) click here.