AMD rises as Q4 results top expectations, forecast not as bad as feared
JHVEPhoto

AMD (NASDAQ:AMD) shares rose nearly 4% in extended-hours trading. after the semiconductor company reported fourth-quarter results that topped expectations and issued a better-than-expected forecast.
For the period ending December 31, AMD (AMD) earned 69 cents per share on $5.6B in revenue, up 16% year-over-year, as strength in the Embedded and Data Center segments outweighed weakness in the Client and Gaming segments. 
The company also generated gross margin of 43% in the period, down 7%, as amortization of certain Xilinx assets impacted the quarterly results.
A consensus of analysts were expecting AMD (AMD) to earn 67 cents per share on $5.5B in revenue.
Looking ahead, AMD (AMD) said it expects revenue to be between $5B and $5.6B, a decline of 10% year-over-year. Weakness in the PC and Gaming segments are expected to continue, while the Embedded and Data Center segments continue to grow.
Adjusted gross margins are expected to be approximately 50% during the period.
Analysts expect the Dr. Lisa Su-led AMD (AMD) to generate roughly $5.56B in revenue during the period.
AMD (AMD) is scheduled to host a conference call at 5 p.m. EST to discuss the results.
Earlier this month, Bernstein analyst Stacy Rasgon downgraded AMD (AMD) to market perform from buy, citing the continued deterioration of the PC market.