AMD Shares Surge 9% on Q1 Beat

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares rose around 9% on Wednesday following the company’s reported Q1 results, with non-GAAP EPS coming in at $1.13, significantly above the Street estimate of $0.91.

Deutsche Bank analysts provided their views on the quarterly results, highlighting that the company is successfully navigating macro uncertainties and they expect the company’s Q2 guidance and full 2022-year outlook (revenue growth of above 60% year-over-year) to potentially prove to be conservative.

Overall, the analysts remain thoroughly impressed with the company’s execution in its core businesses and are confident of the XLNX acquisition’s ability to broaden the combined company’s processing and networking portfolio/customer base.

Deutsche Bank looks forward to the upcoming Analyst Day (June 9th) where it will get additional color on the company’s business profile and long-term roadmap with the inclusion of XLNX.

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