AMD Shares Tick Higher As Results Match Street View

By Wallace Witkowski Markets MarketWatch Pulse

Advanced Micro Devices Inc. shares rose in the extended session Tuesday after the chipmaker's fourth-quarter results were in line with Wall Street estimates. AMD shares advanced 2.8% to $10.66 after hours. The company reported a loss of 1 cent per share on revenue of $1.11 billion for the fourth quarter. Analysts surveyed by FactSet had expected a loss of 1 cent per share on revenue of $1.07 billion. For the first quarter, AMD said it expects revenue to decrease 11% sequentially, plus or minus 3 percentage points, which would result in revenue of $954.6 million to $1.02 billion. Analysts expect revenue of $964 million.

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