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Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD ) reported a decline in fourth-quarter earnings, despite an increase in profits.
Earnings, excluding special items, fell to $0.69 per share in the most recent quarter from $0.92 per share in the fourth quarter of 2021. Net income, according to the report, was $21 million or $0.01 per share, compared to $974 million or $0.80 per share in the prior year period.
Check this space to read management/analyst commentary on AMD’s Q4 2022 results
Fourth-quarter revenue rose to $5.60 billion from $4.83 billion in the corresponding period last year. The top line also beat Wall Street forecasts.
“We accelerated the data center momentum and closed the strategic acquisition of Xilinx, significantly diversifying our business and strengthening our financial model. Despite the mixed demand environment, we are confident in our ability to gain market share in 2023 and generate long-term growth based on our diversified product portfolio, “said AMD CEO Lisa Su.
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