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AMD gains 7% on results
AMD shares rose 7% in after-hours trading after the company reported third-quarter results that beat Wall Street expectations. Revenue came in at $13.38 billion, versus $13.09 billion expected, while adjusted earnings per share were $2.09, compared with forecasts of $1.95. Revenue increased 45% year over year, and data center sales nearly doubled, accounting for 64% of total revenue. The company forecast fourth-quarter revenue of about $17 billion, above analysts’ average estimate of $16.2 billion.
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