AMD Shares Fall After Third-quarter Results Miss

MarketWatch Pulse

Advanced Micro Devices Inc. shares declined in the extended session Thursday after the chip maker fell short of third-quarter expectations and announced job cuts. AMD shares fell 6.8% to $2.46 on heavy volume after the company reported adjusted third-quarter earnings of 3 cents a share on revenue of $1.43 billion. Analysts surveyed by FactSet estimated 4 cents a share on revenue of $1.47 billion. AMD announced it will cut 7% of its global workforce by the end of the fourth quarter. The company has just under 10,700 employees.

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