Here comes AMD earnings...
Advanced Micro Devices reports its second-quarter results after Tuesday's closing bell.
The company is expected to post a loss of $0.027 per share, on sales of $1.16 billion according to analysts surveyed by Bloomberg. AMD whiffed on its first quarter earnings, reporting a loss of $0.04.
AMD has a record of beating Wall Street's expectations, however. For the last seven quarters, AMD has exceeded earnings per share expectations by an average of 106.8%.
Here's what the Bloomberg consensus is expecting:
- GAAP EPS: -$0.027 per share
- Revenue: $1.159 billion
AMD has received a boost from cryptocurrency mining this year. Bitcoin and Ethereum have both exploded in value, and miners hoping to grab a share of these currencies have been buying up graphics processing units in droves from AMD and rival Nvidia.
Ahead of the report, millennial investors on the Robinhood platform have been selling shares more often than buying them, according to data from the company.
AMD is up 24.49% this year.
