What happened Shares of Advanced Micro Devices (NASDAQ: AMD) have climbed more than 31% so far in 2017, according to data provided by S&P Global Market Intelligence, after the company reported strong fourth-quarter 2016 and full-year 2016 earnings, as well as an earnings beat in the second quarter of 2017. So what AMD's stock jumped 20% in February after the company reported a 15% year-over-year revenue increase in the fourth quarter, to $1.11 billion. Non-GAAP earnings per share came in at negative $0.01, which matched analysts' consensus estimates. Image source: Getty Images. The company also posted solid gains for the full year, with revenue climbing 7% year over year from 2015 and net losses slowing to $117 million, down from $419 million the previous year. Nearly all of those gains were lost in May, though, after AMD reported its first-quarter 2017 results. Revenue was up 18% year over year and the company had a net loss of $0.04 per share. But investors were disappointed with the company's Q2 guidance of 12% year-over-year revenue growth. They may have been expecting higher growth after a slew of new AMD products had recently hit the market. But that didn't stop the company's share price from bouncing back in July -- and jumping more than 20% -- leading up to the company's second-quarter results on July 25. Revenue was up 19% year over year to $1.22 billion and non-GAAP EPS hit $0.02. Both of those results were higher than analysts' consensus estimates of $1.16 billion in revenue and breakeven for earnings. Now what Investors are likely to be pleased with AMD in the short term, as third-quarter revenue is expected to increase 15% year over year, at the midpoint. The company also increased its annual revenue expectations to growth by mid to high teens percentage, up from its previous expectations of low double-digit growth. That helped fuel investor optimism toward the end of this month and will likely keep it going in the coming months. 10 stocks we like better than Advanced Micro DevicesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Advanced Micro Devices wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of July 6, 2017Chris Neiger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.