Advanced Micro Devices’ shares surged after the company reported smaller-than-expected losses and predicted strong revenue for the first quarter.
The computer chip manufacturer reported quarterly revenue of $1.11 billion in a report released Tuesday, beating the Thomson Reuters estimate of $1.07 billion in sales. Quarterly losses of 1 cent per share were lower than the street’s prediction of 2 cents per share.
Shares spiked moire than 16 percent Wednesday in response to the news.
