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Why Shares of Advanced Micro Devices Inc. Jumped 14% Friday

What: After Advanced Micro Devices (NASDAQ: AMD) reported better-than-expected second-quarter results on Thursday following the market close, shares of the semiconductor company jumped as much as 14.4% on Friday, and are up 12% at the time of this writing. This extends the stock's incredible performance recently; shares are up about 190% in the past six months.

AMD Radeon RX 480 graphics card. Image source: AMD.

So what: Investors are likely upbeat about AMD because the company's loss per share was narrower than expected, and its revenue was higher than expected. Adjusted to exclude one-time items, AMD reported a loss of $0.05 per share, better than analysts' consensus estimate for an $0.08 loss. Revenue increased 9% to $1.027 billion -- above analysts' consensus estimate for revenue of $951.3 million. Further, the company returned to non-GAAP operating profitability one quarter ahead of schedule, reporting non-GAAP operating income of $3 million.

"In the second quarter we accomplished a significant milestone as we returned to non-GAAP operating profitability based on solid execution and strong demand for our semi-custom and graphics products," said CEO Lisa Su.

Now what: Going forward, Su is optimistic, expecting strength in the company's semi-custom products and its latest Radeon RX and 7th Generation A-Series APUs "to drive growth and market share gains in the second half of the year."

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Daniel Sparks has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.