Chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD) reported an increase in revenue and adjusted earnings for the third quarter of 2024.
Third-quarter earnings, on an adjusted basis, rose to $0.92 per share from $0.70 per share in the corresponding period last year. Earnings topped expectations. On a reported basis, net income was $771 million or $0.47 per share in Q3, compared to $299 million or $0.18 per share in the prior-year period.
Revenues increased to $6.82 billion in the September quarter from $5.8 billion in the comparable period of fiscal 2023, as the recovery in chip demand continued.
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