Thomson Reuters
FILE PHOTO: Visitors look at motherboards being displayed at the AMD booth during the 2012 Computex exhibition at the TWTC Nangang exhibition hall in Taipei
- Advanced Micro Devices is scheduled to report first-quarter earnings Wednesday afternoon.
- Refresh this page to see the results as soon as they are released.
- Follow AMD's stock price in real-time here.
AMD, Advanced Micro Devices, is scheduled to report first-quarter earnings after the closing bell on Wednesday.
Analyst polled by Bloomberg expect the chipmaker to post adjusted earnings of $0.09 per share on revenues of $1.57 billion.
"We expect AMD to report C1Q ABOVE and guide C2Q INLINE on an absolute basis despite waning momentum in Crypto exiting C1Q," Credit Suisse analyst John Pitzer wrote in a note ahead of the results. "Specifically, we expect Crypto to drive $150-200 mm of UPSIDE to both our C1Q and C2Q Rev estimate."
The crypto craze that peaked in January provided a boost for graphics processor unit makers like AMD and its competitor Nvidia. But as prices have fallen in 2018, so too has would-be miners interest in the chips that were traditionally only popular among PC gamers.
"Ultimately, we don't believe Crypto GPU Rev is sustainable and see 3 potential issues: (1) Price volatility in Ethereum which makes mining less economical, (2) Bitmain's Ethereum ASIC scheduled for release in July, and (3) An increased probability of Crypto moving from proof-of-work to proof-of-stake negating the need for mining/GPUs all together," Pitzer added.
Ahead of the report, millennial investors on the brokerage app Robinhood were gobbling up shares of the company 40% more than they were selling - a marked shift from last quarter when young investors were dumping the stock.
Shares sank about 2.7% on Wednesday, and are down 10% since the beginning of the year.
