Chipmaker Advanced Micro Devices reported a better-than-expected 23.2% increase in quarterly revenue, helped by higher demand for graphics chips used in gaming consoles.
AMD forecast revenue for the fourth quarter to decrease 18% from the third quarter, plus or minus 3%, which translates into a range of $1.03 billion-$1.11 billion.
Analysts on average were expecting revenue of $1.06 billion, according to Thomson Reuters I/B/E/S.
The company’s shares were down nearly 4% at $6.70 in after-hours trading.
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Net loss widened to $406 million, or 50 cents per share, in the third quarter ended Sept. 24 from $197 million, or 25 cents per share, a year earlier.
The company’s revenue rose to $1.31 billion from $1.06 billion, above the average analyst estimate of $1.21 billion.
Excluding items, the company earned 3 cents per share, while analysts had expected break-even per share.