AMD's Data Center Business Doubled to $6.7 Billion. The Stock Fell 9% Because of What That Growth Costs.
Record revenue, a doubled AI business -- so why did shares sink after hours?
Overview
Shares of Advanced Micro Devices (NASDAQ: AMD) fell about 9% in Tuesday's after-hours session after the chipmaker reported its second-quarter results. That was just hours after the stock closed the regular session up 7%.
The odd part is that the quarter itself was excellent. Revenue rose 50% year over year to a record $11.5 billion, and data center revenue more than doubled.
Details
Why did a report that strong knock shares back to about $473, as of this writing?
Source
Originally published at www.fool.com.
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