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AMD stock soars after strong guidance, earnings beat

Shares of Advanced Micro Devices soared after the company raised its outlook and reported earnings that topped expectations.

The stock surged 10 percent in after-hours trading as more than 21 million shares changed hands on Tuesday.

Here's how the company did compared to expectations, according to Thomson Reuters consensus estimates:

  • EPS: 2 cents per share vs. break-even
  • Revenue: $1.22 billion vs. $1.16 billion

As strong as the company's second-quarter results were, tech analyst Patrick Moorhead said there may be more good news ahead for AMD.

"AMD has a lot to look forward to as none of their actuals incorporates sales of EPYC server parts, only limited sales of the new Radeon Vega and none of the Ryzen notebook parts," Moorhead, founder and principal...