Changes in US stocks | AMD.US (AMD.US) fell more than 7% Q3 revenue guidance fell short of expectations

The Zhitong Finance App learned that on Wednesday, American Ultra Micro (AMD.US) fell more than 7% to $480.71. According to the news, after the market on August 4, AMD announced financial results for the second quarter. Although both revenue and profit exceeded expectations, the median revenue guidance given for the third quarter was about 13 billion US dollars, which failed to meet the previous high expectations of more than 14 billion US dollars by some aggressive investors. Capital expenditure for the second quarter reached 808 million US dollars, far exceeding market estimates of 298.6 million US dollars, a sharp increase over the previous year, causing market concerns about the erosion of the company's profitability.

According to financial reports, AMD's second-quarter revenue increased 50% year over year to 11.536 billion US dollars, higher than the forecast of 11.3 billion US dollars, a record high; non-GAAP earnings per share were 1.66 US dollars, higher than market expectations of 1.62 US dollars. The company's gross margin reached 56%, and net profit reached US$2.76 billion.

The company's senior management is quite optimistic about the medium- to long-term prospects. Chief Financial Officer Jean Hu said that data center sales are expected to accelerate further in the second half of 2026, driving overall revenue growth and continued profit expansion. Su Zifeng also clearly predicted that the company's data center revenue will “double again” in 2027, and server revenue will increase by more than 80% year-on-year in the second half of fiscal year 2026. Earlier in July, AMD raised the global semiconductor market's overall forecast to $2 trillion in 2028, of which the AI accelerator market will contribute 1.4 trillion US dollars, a significant increase from the previous forecast of 500 billion US dollars.