Advanced Micro: Q2 Earnings Snapshot

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Advanced Micro Devices Inc. (AMD) on Tuesday reported second-quarter net income of $2.3 billion.

The Santa Clara, California-based company said it had profit of $1.38 per share. Earnings, adjusted for one-time gains and costs, were $1.66 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The chipmaker posted revenue of $11.54 billion in the period, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $11.32 billion.

For the current quarter ending in September, Advanced Micro said it expects revenue in the range of $12.7 billion to $13.6 billion.

Advanced Micro shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $518.58, nearly tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMD at https://www.zacks.com/ap/AMD